Nifty Forms Inside day,EOD Analysis

  • FII’s sold 4.9 K contract of Index Future worth 368 cores ,2.3 K Long contract were added by FII’s and 7.2 K short contracts were added by FII’s. Net Open Interest increased  by 9.6 K contract, so rise in market was used by FII’s to enter long and enter  shorts  in  Index futures. Common Excuses Made By Losing Traders
  • As discussed in last analysis  8675-8700 is crucial resistance band as per gann angles as shown in below chart, further rally towards 8752/8806 as budget is coming on 01 feb so once 8700 crossed we can see fast move towards 8806/8840 range. Bearish only below 8432. Nifty held on to 8600 and did not break 8700 and also formed NR 7 and inside pattern suggesting big move round the corner. Bearish below 8600 for a move till 8550/8500 and bullish above 8700 for move towards 8775/8820. Bank Nifty consolidate in range before Budget,EOD Analysis

  • Nifty Feb Future Open Interest Volume is at 1.99 core with addition of 5.5 Lakh with decrease in cost of carry suggesting short  position were added today, NF Rollover cost @8468.
  • Total Future & Option trading volume at 2.72 Lakh core with total contract traded at 0.91 lakh , PCR @0.82
  • 9000  CE  is having Highest OI  at 36 lakh, resistance at 9000 followed by 8700 .8400-9000 CE added 3.9 Lakh in OI so bulls added in 8900/9000 CE .FII bought 18.8 K CE longs and 36.8 K CE were shorted by them .Retail bought 53 K CE contracts and 110 K CE were shorted  by them.
  • 8400 PE OI@36.7 lakhs having the highest OI strong support at 8400 followed by 8200. 8400-9000 PE added 21.7 Lakh in OI so bulls added in 8400/8500 PE. FII bought 39.8 K PE longs  and 22.6 K PE were shorted by them .Retail bought 13.9 K PE contracts and 80.4 K PE were shorted by them.
  • FII’s bought 607 cores in Equity and DII bought 40 cores in cash segment.INR closed at 67.94

Buy above 8640  Tgt 8670,8700 and 8740 (Nifty Spot Levels)

Sell below 8612 Tgt 8592,8570 and 8540 (Nifty Spot Levels)

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