Nifty Bulls protects 8656, EOD Analysis


  • FII’s sold 13.8 K contract of Index Future worth 892 cores ,11.4 K Long contract were liquidated by FII’s and 2.3 K short contracts were added by FII’s. Net Open Interest decreased  by 9 K contract, so fall in market was used by FII’s to exit long and enter shorts  in  Index futures. The important things in life
  •  As discussed last Analysis   As we have weekly closing today bulls would like to have close above 8756 and bears below 8656. Below 8656 we can breach the low of 8555 formed on 30 Sep. Nifty made low of 8663 thus protecting the break of 8656, Close below 8656 would have been bad job by bulls. Now next week has only 3 trading days so protecting 8656 bulls can make one more attempt towards 8756/8800. Bears will be active only close below 8656 for target of 8518/8476.  Bank Nifty forms DOJI near gann support,EOD Analysis


  • Nifty Oct Future Open Interest Volume is at 2.14 core with liquidation of 6.7 Lakh with decrease in cost of carry suggesting long  position were closed today, NF Rollover cost @8777, closed below it,trading around rollover price suggesting big move round the corner.
  • 9000  CE  is having Highest OI  at 62.8 lakh, resistance at 9000 .8500/9000 CE  added 8.3 lakh so bears added aggressively in range of  8800-8900 CE  .FII bought 2.9 K CE longs and 13.9 K CE were shorted by them .Retail bought 36.9 K CE contracts and 11.1 K CE were shorted by them.
  • 8600 PE OI@42.8 lakhs having the highest OI strong support at 8600. 8500-9000 PE saw liquidation of 8.6 Lakh in OI so bulls ran for cover in 8700-8800 CE options.FII bought 15.3 K  PE longs  and 4.1 K PE  were shorted by them .Retail bought 9 K PE contracts and 20.6 K PE were shorted by them.
  • FII’s bought 56 cores in Equity and DII’s bought 726 cores in cash segment.INR closed at 66.67

Buy above 8730 Tgt 8754,8785 and 8805 (Nifty Spot Levels)

Sell below 8690 Tgt 8666,8640 and 8610 (Nifty Spot Levels)

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