Nifty on verge of doing price time squaring,EOD Analysis

  • FII’s bought 6.9 K contract of Index Future worth 522 cores ,1.1 K Long contract were added by FII’s and 5.7 K Short contracts were covered by FII’s. Net Open Interest decreased  by 4.6 K contract, so fall in market was used by FII’s to enter long and exit short in  Index futures.  FII’s Long to Short Ratio at 0.91.  What Caused Huge sell-off and panic in the Stock Market yesterday?
  • As Discussed in Last Analysis  We saw the effect of time cycle as soon as the support of 11160-11170 broken we saw a water fall decline towards 10870,  Nifty had a black swan event, we were prepared for it and price broke the gann angle on Wednesday.Now Bounce like we saw on Friday are generally get sold into and price revisit the low price hit in next few days. Till we are trading below 11300 bears have upper hand. Bearish below 11080 for a move back to 11000/10890/10800/10720. Bullish above 11170 for a small relief rally towards 11230/11300/11350. As discussed  Nifty broke 11080 and made  low of 10944. Now as 25 Sep is an important time cycle date, we can expect a reversal for short term bounce. We might do price time squaring if we held to the low of 10944.Bullish above 11005 for a move back to 1076/11143/11181. Bearish below 10944 for a move back to 10870/10800.  Important intraday time for reversal can be at 10:24/1:08/1:43. Bank Nifty Bears make a Killing on Black Swan Event

 

  • Nifty Sep Future Open Interest Volume is at 2.06 core with liquidation of 27.5 Lakh with increase in  cost of carry suggesting short position were closed today, NF Rollover cost @11747 and Rollover %@ 67
  • 11200 CE  is having Highest OI  at 29.5 Lakh, resistance at 11200 followed by 11100 .10800-13800 CE added 44 lakh in OI so bears  added position in range of 11300-11400 CE. FII bought 15.9 K CE and 32.9 K CE were shorted by them. Retail bought 117 K CE and 54.3 K CE were shorted  by them.

 

  • 11000 PE OI@34 Lakhs having the highest OI strong support at 11000 followed by 10900 . 10800-11600 PE liquidated 11 Lakh in OI so bulls covered position in range 11200-11400 PE. FII bought 26.9 K PE and 3.7 K  PE were shorted  by them. Retail bought 9.2 K PE and 22.6 K PE were shorted by them.
  • Total Future & Option trading volume at1 10.2 Lakh core with total contract traded at 2.1 lakh , PCR @0.82

 

  • FII’s sold 523 cores  and DII’s bought 1527 cores in cash segment.INR closed at 72.64, Started correcting from 73 level as discussed in Rupee Analysis. Indian Rupee nearing a Short term top

 

Buy above 11000 Tgt 11025,11055 and 11088 (Nifty Spot Levels)

Sell below 10930 Tgt 10900,10870 and 10850 (Nifty Spot Levels)

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