Nifty Continue to hold 8050,EOD Analysis

  • FII’s bought 643 contract of Index Future worth 50 cores ,802 Long contract were liquidated by FII’s and 1.4 K short contracts were liquidated by FII’s. Net Open Interest increased  by 2.2 K contract, so fall in market was used by FII’s to exit long and exit shorts  in  Index futures. How Your Brain Stops You From Being A Trader
  • As discussed in last analysis  Nifty did low of 8062, Today low is very crucial its kind of make or break level looking at the current price action and time analysis, Break of 8056 will see a move towards 7972/7916. Holding the same another bounce towards 8150/8200. Low made today was 8053 near the gann line as shown below suggesting still bulls are fighting hard to protect 8050 on closing basis and give another up move towards 8150/8200. Close below 8051 move towards 8000/7916.  Bank Nifty continue to trade below gann angle

  • Nifty Dec Future Open Interest Volume is at 1.42 core with liquidation of 1.3 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @8049 closed above it.
  • Total Future & Option trading volume at 2.92 Lakh core with total contract traded at .77 lakh , PCR @0.86.
  • 8300  CE  is having Highest OI  at 57 lakh, resistance at 8300 followed by 8500 .7900/8300 CE  added 6.6  lakh so bears added aggressively  8100/8200 CE .FII sold 7.5 K CE longs and 6.4 K CE were shorted by them .Retail bought 42 K CE contracts and 8 K CE were shorted by them.
  • 8000 PE OI@67 lakhs having the highest OI strong support at 8000. 7900-8500 PE liquidated 4.3 Lakh in OI so bulls  liquidated in 8100/8200 PE. FII bought 12.2 K  PE longs  and 167 PE were shorted by them .Retail bought 13.3 K PE contracts and 16.9 K PE were shorted by them.
  • FII’s sold 1178 cores in Equity and DII  bought 1057 cores in cash segment.INR closed at 67.91

Buy above 8075 Tgt 8100,8130 and 8160 (Nifty Spot Levels)

Sell below 8050 Tgt 8030,8000 and 7972 (Nifty Spot Levels)

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