Nifty Bulls protect 10300 on Turn Date,EOD Analysis

  • FII’s sold 21.3 K contract of Index Future worth 1785 cores ,1.3 K Long contract were liquidated by FII’s and  20  K Short contracts were added by FII’s. Net Open Interest increased  by 18.7 K contract, so rise in market was used by FII’s to exit long and enter  short in  Index futures. FII’s Long to Short Ratio at 1.1. Meditation is the golden key to all the mysteries of life.

 

  • As discussed in last analysis  Nifty went below 10300 but failed to do our target of 10240, and closed at the border line of 10308. As we have another major trend change date tommrow so time to be cautious again,Bearish below 10240 for a move towards 10123/10090.  Bullish above 10330 for a move towards 10380/10430/10490. Low made today was 10264 near the gann angel and high made was 10344, it was a roller coaster day with Bulls getting whipsawed above 10330, bears failed to capitalize as they were not able to break 10240 and bulls will be happy as EOD close was above 10300. Based on time cycle till 10240 is not broken bulls will have upper hand,Bullish above 10330 for a move towards 10380/10430/10490. Bearish below 10240 for a move towards 10150.  Bank Nifty does 25500 Holding 25150,EOD Analysis

 

  • Nifty Nov Future Open Interest Volume is at 2.57 core with addition of 10 Lakh with decrease in  cost of carry suggesting short position were added today, NF Rollover cost @10280 closed above it. Low made was 10284 and big bounce back.
  • Total Future & Option trading volume at 5.3 Lakh core with total contract traded at 1.25 lakh , PCR @0.90
  • 10500 CE  is having Highest OI  at 45.7 Lakh, resistance at 10500 followed by 10600 .10000-10500 CE added 11.8 Lakh in OI so bears added major  position  in range of 10400-10500 . FII bought 1.8 K CE and 12.4 K  CE were shorted by them. Retail bought 45.4 K CE and 35.2 K CE were shorted by them
  • 10200 PE OI@56.1 lakhs having the highest OI strong support at 10200 followed by 10150. 10000-10500 PE added 3.3 Lakh in OI so bulls added position  in 10000-10200 PE. FII bought 11.9 K PE and 55  PE were shorted by them. Retail bought 34.6 K PE and 34.2 K PE were shorted by them.
  • FII’s sold 529 cores  and DII’s bought 1920 cores in cash segment.INR closed at 65.17

Buy above 10325 Tgt 10350,10365 and 10385 (Nifty Spot Levels)

Sell below 10240 Tgt 10214,10180 and 10160(Nifty Spot Levels)

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