Nifty forms Inside Day Pattern,EOD Analysis

  • FII’s bought 2.7 K contract of Index Future worth 181 cores ,3.9 K Long contract were added by FII’s and 1.1 K short contracts were liquidated by FII’s. Net Open Interest increased  by 5.1 K contract, so fall in market was used by FII’s to enter long and enter shorts  in  Index futures. Traders New Year’s Resolutions for 2017
  • As discussed in last analysis   Real test of bulls will come in range of 8250-8270,  decisive move can be seen during 04-05 Jan period. Bullish above 8270 for a move towards 8370/8450.Bearish below 8100 for a move till 7997/7900. High made today was 8218 and low 8180 so still the range trade between 8250-8100 continues.  decisive move will be seen outside this range only. As I have been discussing decisive move can be seen in 04-05 Jan so if any side range breaks expect at least 80-100 points move. Bank Nifty held on to its gann support,Ready for Big move

  • Nifty Jan Future Open Interest Volume is at 1.75 core with addition of 2.9  Lakh with increase in cost of carry suggesting long  position were added today, NF Rollover cost @8031 closed above it.
  • Total Future & Option trading volume at 3.06 Lakh core with total contract traded at 0.90 lakh , PCR @0.76.
  • 8200  CE  is having Highest OI  at 41.3 lakh, resistance at 8200 followed by 8400 .7900/8500 CE  added 6.7 lakh so bears added aggressively  8500/8300 CE .FII bought 12.8 K CE longs and 3.8 K CE were shorted by them .Retail bought  62.8 K CE contracts and 45.3 K CE were shorted by them.
  • 8000 PE OI@61.2 lakhs having the highest OI strong support at 8000. 7900-8500 PE added 9.2 Lakh in OI so bulls  added in 8200/8000 PE. FII bought 11.6 K PE longs  and 7.9 K PE were shorted by them .Retail bought 25 K PE contracts and 22.4 K PE were shorted by them.
  • FII’s sold 800 cores in Equity and DII  bought 427 cores in cash segment.INR closed at 68.23

Buy above 8225 Tgt 8255,8275 and 8300 (Nifty Spot Levels)

Sell below 8180 Tgt 8160,8133 and 8100 (Nifty Spot Levels)

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