Nifty Bulls continue to Hold gann angle,EOD Analysis

  • FII’s sold 2.3 K contract of Index Future worth 95 cores ,3.5 K Long contract were added by FII’s and 5.9 K Short contracts were added by FII’s. Net Open Interest increased  by 9.4 K contract, so rise in market was used by FII’s to enter long and enter short in  Index futures. FII’s Long to Short Ratio at 1.1. Everyone can play

 

  • As discussed in last analysis    High made today was 10405  and low made was 10362 , so finally trades who went long above 10370 were rewarded, Important thing to note here is even we did not get the big move but the time cycle low of 10307 was not broken and we got 100 points move from the low, also suggesting underlying strength is bullish.27 is another time cycle date so next 2 days we should get some good move. Bullish momentum to continue till 10360 is held for a move towards 10490/10525. Bearish below 10300 for a move towards 10230/10180. Nifty opened gap down but quickly move above 10360 and continue to close above 10360 and heading towards 10490 till 10300 is held. Bulls can add position above 10410 for a move towards 10490/10525. Bearish below 10330 for a move towards 10280/10230/10180.  Bank Nifty Bulls give trending move Holding 25620,EOD Analysis

 

  • Nifty Nov Future Open Interest Volume is at 1.76 core with liquidation of 22 Lakh with increase in  cost of carry suggesting short position were added today, NF Rollover cost @10280 closed above it.
  • Total Future & Option trading volume at 5.71 Lakh core with total contract traded at 1.1 lakh , PCR @0.90
  • 10500 CE  is having Highest OI  at 61.4 Lakh, resistance at 10500 followed by 10600 .10300-10600 CE added 14.3 Lakh in OI so bears added major position  in range of 10500-10600 . FII sold 3 K CE and 6.9 K CE were shorted by them. Retail bought 32.4 K CE and 1.1 K CE were shorted by them.
  • 10300 PE OI@60.9 lakhs having the highest OI strong support at 10300 followed by 10200. 10300-10600 PE added 10.3 Lakh in OI so bulls added again in 10300-10300 PE as 10300 was held. FII bought 20.3 K PE and 4.8 K shorted  PE were covered by them. Retail bought 23.7 K PE and 47.8 K PE were shorted by them.
  • FII’s sold 424  cores  and DII’s bought 69 cores in cash segment.INR closed at 64.50

Buy above 10410 Tgt 10430,10450 and 10480 (Nifty Spot Levels)

Sell below 10380 Tgt 10355,10320 and 10290 (Nifty Spot Levels)

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