Nifty does 7972 below 8050,EOD Analysis

  • FII’s sold 13.8 K contract of Index Future worth 786 cores ,865 Long contract were liquidated by FII’s and 13 K short contracts were added by FII’s. Net Open Interest increased  by 12.1 K contract, so fall in market was used by FII’s to exit long and enter  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. Close below 8051 move towards 8000/7916. Nifty opened at 8046 below 8050 and did the target of 8000/7972. Unable to close above 8000 bears will break the swing low of 7916 but the range of 7880-7900 is very important support zone so shorts should cover in that range if and when it comes. Weekly close tomorrow Bulls would like to see close above 8000 and bears below 7920.  Bank Nifty does 17900 below 18250, EOD Analysis

  • Nifty Dec Future Open Interest Volume is at 1.28 core with liquidation of 13.7 Lakh with increase in cost of carry suggesting short  position were added today, NF Rollover cost @8049 closed above it.
  • Total Future & Option trading volume at 5.3 Lakh core with total contract traded at 1.46 lakh , PCR @0.82.
  • 8200  CE  is having Highest OI  at 50 lakh, resistance at 8200 followed by 8300 .7900/8300 CE  added 35.2  lakh so bears added aggressively  8000/8100 CE .FII bought 596 CE longs and 6.7 K CE were shorted by them .Retail sold 24.3 K CE contracts and 32 K shorted CE were covered by them.
  • 8000 PE OI@62.5 lakhs having the highest OI strong support at 8000. 7900-8300 PE liquidated 26.4 Lakh in OI so bulls  liquidated in 8100/8000 PE. FII bought 2.7  K  PE longs  and 1.7 K PE were shorted by them .Retail sold 84.1 K PE contracts and 52.1 K PE were shorted by them.
  • FII’s sold 614 cores in Equity and DII  bought 319 cores in cash segment.INR closed at 67.99

Buy above 7997 Tgt 8020,8050 and 8080 (Nifty Spot Levels)

Sell below 7965 Tgt 7948,7920 and 7880 (Nifty Spot Levels)

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