Nifty getting ready for range breakout,EOD Analysis

  • FII’s sold 3.6 K contract of Index Future worth 209 cores ,63 Long contract were added by FII’s and 3.6 K Short contracts were added by FII’s. Net Open Interest increased  by 3.7 K contract, so rise in market was used by FII’s to enter long and enter shorts  in  Index futures. Making Overnight Money via Trading
  • As discussed in last analysis   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. High made today was 8445 so gann resistance zone continue to play its pivotal role as shown in below chart, low was 8404 so still the range trade continues buy low sell higher till the range does a breakout or breakdown. Bulls need close above 8460 for move towards 8500/8555. Bear below 8370 for move towards 8328/8280. Expect Impulsive move in next 1-2 trading days.  Bank Nifty holds on to 19100,EOD Analysis

  • Nifty Jan Future Open Interest Volume is at 2.01 core with liquidation of 3.6  Lakh with decrease in cost of carry suggesting long  position were closed today, NF Rollover cost @8031 closed above it.
  • Total Future & Option trading volume at 5.40 Lakh core with total contract traded at 0.79 lakh , PCR @0.87
  • 8500  CE  is having Highest OI  at 48 lakh, resistance at 8500 followed by 8400 .8000/8600 CE  liquidated 0.36 Lakh so bears liquidated position in 8400/8500 CE suggesting resistance at higher levels can be broken as soon as 8460 is broken .FII sold 1 K CE longs and 2.1 K CE were shorted by them .Retail sold 66.8 K CE contracts and 52.9 K shorted CE were covered by them.
  • 8300 PE OI@60 lakhs having the highest OI strong support at 8300 followed by 8200. 8000-8600 PE added 5.2 Lakh in OI so bulls  also added in 8400/8500 PE. FII bought 8.9 K PE longs  and 4.1 K PE were shorted by them .Retail sold 68.5 K PE contracts and 53.1 K shorted PE were covered by them.
  • FII’s sold 132 cores in Equity and DII bought 379 cores in cash segment.INR closed at 68.13

Buy above 8440  Tgt 8462,8480 and 8500 (Nifty Spot Levels)

Sell below 8410 Tgt 8388,8370 and 8350 (Nifty Spot Levels)

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