Nifty Technical Structure after Surgical Strike on Black Money


  • FII’s sold 4.5 K contract of Index Future worth 302 cores ,1.8  K Long contract were liquidated by FII’s and 2.7 K short contracts were added by FII’s. Net Open Interest increased  by 873 contract, so rise in market was used by FII’s to exit  long and enter shorts  in  Index futures. Government’s surgical strike against black money
  • As Discussed in Last Analysis For tomorrow above 8550 can see move towards 8626.  8686 is the number Bulls and bears should watch on upside, closing above it can see fast move towards 8900. Bears should with for close below 8400 for move towards 8287/8200. Bulls were unable to close above 8550 suggesting they are still on back foot, If tomorrow we get gap down and we break 8400 we can see correction till 8337/8287 and in worst case till 8100    Bank Nifty Technical Structure after Surgical Strike on Black Money



  • Nifty Nov Future Open Interest Volume is at 1.60 core with liquidation of 0.57 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @8705 made high at 8704 on Tuesday and correction of 300 points.
  • 9000  CE  is having Highest OI  at 62.5 lakh, resistance at 9000 .8500/9000 CE  added 23 lakh so bears  added in 8800-8900 range  .FII sold 6.1 K CE longs and 9 K CE were shorted by them .Retail bought 45.5 K CE contracts and 34.7 K CE were shorted by them.
  • 8200 PE OI@51.1 lakhs having the highest OI strong support at 8400 followed by 8200. 8500-9000 PE added 9.7 Lakh in OI so bulls added in 8200-8300 PE aggressively. FII bought 101 K  PE longs  and 43.6 K PE  were shorted by them .Retail bought 74 K PE contracts and 43.6 K PE were shorted by them.
  • FII’s bought 86 cores in Equity and DII’s bought 294 cores in cash segment.INR closed at 66.73

Buy above 8510 Tgt 8525,8560 and 8600 (Nifty Spot Levels)

Sell below 8450 Tgt 8420,8380 and 8350 (Nifty Spot Levels)

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