Nifty Bulls Hold 8370 but fail to close above 8460,EOD Analysis

  • FII’s sold 2.1 K contract of Index Future worth 169 cores ,1.3 K Long contract were liquidated by FII’s and 741 short contracts were added by FII’s. Net Open Interest decreased  by 631 contract, so fall in market was used by FII’s to exit long and enter shorts  in  Index futures. Do not Strike when Angry
  • As discussed in last analysis    Nifty  made high of 8426 and low of 8374 so bulls unable to close above 8460 and bears below 8370. As 8370 was previous resistance now it has become a solid support as from past 2 days low on Nifty was 8373/8374. Bearish below 8370 for a move towards 8330/8250. Bullish above 8460 zone in between see saw move. High made today was 8440 and low 8378 so bulls unable to break 8460 and bear 8370 and yo-yo move continue within the small range of 90 points, Bulls need close above 8460 for move towards 8500/8555. Bear below 8370 for move towards 8328/8280.  Bank Nifty continue to trade near breakout zone,EOD Analysis

  • Nifty Jan Future Open Interest Volume is at 1.97  core with liquidation of 0.97 Lakh withdecrease in cost of carry suggesting long  position were closed today, NF Rollover cost @8031 closed above it.
  • Total Future & Option trading volume at 3.53 Lakh core with total contract traded at 0.97 lakh , PCR @1.08
  • 8500  CE  is having Highest OI  at 50.6 lakh, resistance at 8500 followed by 8400 .8000/8600 CE  added 2.2 Lakh so bears added position in 8500 CE suggesting resistance formation at higher level .FII bought 6.1 K CE longs and 4.9 K CE were shorted by them .Retail bought 55.3 K CE contracts and 36.4 K CE were shorted by them.
  • 8300 PE OI@68.3 lakhs having the highest OI strong support at 8300 followed by 8200. 8000-8600 PE added 5.2 Lakh in OI so bulls  added in 8300/8400 PE. FII bought 9.6 K PE longs  and 11 K PE were shorted by them .Retail bought 6.3 K PE contracts and 9.6 K PE were shorted by them.
  • FII’s bought 142 cores in Equity and DII sold 607 cores in cash segment.INR closed at 67.95

Buy above 8408  Tgt 8433,8450 and 8468 (Nifty Spot Levels)

Sell below 8370 Tgt 8345,8320 and 8300 (Nifty Spot Levels)

Follow on Facebook https://www.facebook.com/Brameshs-Tech-14011718268586

Follow on Twitter:https://twitter.com/brahmesh

Leave a Reply