Nifty continues to trade in range of 8460-8370,EOD Analysis

  • FII’s sold 13.4 K contract of Index Future worth 895 cores ,5.8 K Long contract were added by FII’s and 19.3 K Short contracts were added by FII’s. Net Open Interest increased  by 25.2 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 8460 so gann resistance zone continue to play its pivotal role as shown in below chart, low was 8397 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.   Bank Nifty close above 19100,EOD Analysis

  • Nifty Jan Future Open Interest Volume is at 2.05 core with addition of 8.7  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 4.55 Lakh core with total contract traded at 1.17 lakh , PCR @1.10
  • 8500  CE  is having Highest OI  at 49.1 lakh, resistance at 8500 followed by 8400 .8000/8600 CE  liquidated 9.1 Lakh so bears liquidated position in 8400/8500 CE suggesting resistance at higher levels can be broken as soon as 8460 is broken .FII bought 581 CE longs and 5.3 K CE were shorted by them .Retail bought 29.8 K CE contracts and 14.9 K CE were shorted by them.
  • 8300 PE OI@62.7 lakhs having the highest OI strong support at 8300 followed by 8200. 8000-8600 PE liquidated 7.3 Lakh in OI so bulls  also liquidated in 8300/8200 PE. FII sold 4.6 K PE longs  and 2.1 K PE were shorted by them .Retail bought 20.3 K PE contracts and 12.6 K PE were shorted by them.
  • FII’s bought 319 cores in Equity and DII bought 245 cores in cash segment.INR closed at 68.07

Buy above 8430  Tgt 8452,8480 and 8500 (Nifty Spot Levels)

Sell below 8388 Tgt 8365,8350 and 8325 (Nifty Spot Levels)

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