Nifty Does 10400 Holding time cycle low,EOD Analysis

  • FII’s bought 4.8 K contract of Index Future worth 348 cores ,4.5 K Long contract were added by FII’s and 290 Short contracts were covered by FII’s. Net Open Interest increased  by 4.2 K contract, so rise in market was used by FII’s to enter long and exit short in  Index futures. FII’s Long to Short Ratio at 1.1. Everyone can play

 

  • As discussed in last analysis     Low made today was 10307 so Bulls protected 10300 and High made was 10374 but did not sustain,bears protected 10370, so  nifty trades between the high and low of trend change date and consolidation continues for 5 days, Testing time for traders, this kind of markets test the mental strength of traders those who survive with minimum loss and the ones rewarded in the next trending move, Whenever time cycle gets delayed by few days there will bigger move. Bullish above 10370 for a move towards 10420/10490/10525. Bearish below 10300 for a move towards 10230/10180.  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.  Bank Nifty continue to hold time cycle low of 25620,EOD Analysis

 

  • Nifty Nov Future Open Interest Volume is at 1.98 core with liquidation of 12 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 4.08Lakh core with total contract traded at 1.06  lakh , PCR @0.80
  • 10500 CE  is having Highest OI  at 59.5 Lakh, resistance at 10500 followed by 10600 .10000-10500 CE liquidated 22 Lakh in OI so bears added covered position  in range of 10400-10500 . FII bought 4.3 K CE and 342 CE were shorted by them. Retail sold 26.1 K CE and 10.4 K CE were shorted by them.
  • 10300 PE OI@61.7 lakhs having the highest OI strong support at 10300 followed by 10200. 10000-10500 PE added 28 Lakh in OI so bulls added again in 10100-10300 PE as 10300 was held. FII sold 699 PE and 2.7 K PE were added by them. Retail bought 68 K PE and 2.7 K PE were shorted by them.
  • FII’s sold 416 cores  and DII’s bought 427 cores in cash segment.INR closed at 64.57

Buy above 10392 Tgt 10410,10435 and 10450 (Nifty Spot Levels)

Sell below 10365 Tgt 10345,10330 and 10300 (Nifty Spot Levels)

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