Nifty start new time cycle with close above 8270,EOD Analysis

  • FII’s sold 3.1 K contract of Index Future worth 203 cores ,2 K Long contract were liquidated by FII’s and 1 K short contracts were added by FII’s. Net Open Interest increased  by 920 contract, so rise in market was used by FII’s to exit long and enter shorts  in  Index futures. Paul Tudor Jones explaining Why FAILURE is important
  • As discussed in last analysis   As we have new time cycle starting tommrow so expect 200-300 points move in nifty till 25 Jan. Bulls need close above 8270 and bear need close below 8200  and in between the range become no trade zone. Nifty finally closed above 8270 when the new time cycle is starting suggesting bulls are can continue upmove towards 8370/8430. Bearish only on close below 8200.  Bank Nifty continue to rally holding 18250,EOD Analysis

  • Nifty Jan Future Open Interest Volume is at 1.87 core with addition of 0.02 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 2.29Lakh core with total contract traded at 0.79 lakh , PCR @1.12
  • 8400  CE  is having Highest OI  at 52 lakh, resistance at 8400 followed by 8500 .8000/8600 CE  liquidated 2.7  lakh so bears covered there position in 8200/8300 CE suggesting nifty ready for further upmove .FII bought 3.6 K CE longs and 0.5 K CE were shorted by them .Retail sold  2.5 K CE contracts and 16.3 K CE were shorted by them.
  • 8000 PE OI@66.2 lakhs having the highest OI strong support at 8000. 8000-8500 PE added 6.3 Lakh in OI so bulls  added in 8200/8100 PE. FII bought 4.5 K PE longs  and 10.2 K PE were shorted by them .Retail bought 37 K PE contracts and 17.6 K PE were shorted by them. Retailer showing bearish bias suggesting nifty can continue the upmove.
  • FII’s sold 21 cores in Equity and DII  bought 253 cores in cash segment.INR closed at 68.18

Buy above 8315  Tgt 8330,8350 and 8370 (Nifty Spot Levels)

Sell below 8280 Tgt 8255,8230 and 8210 (Nifty Spot Levels)

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