Nifty bears get whipsawed below 10850,EOD Analysis

  • FII’s bought 23 contract of Index Future worth 8 cores ,1.4 K Long contract were added by FII’s and 1.4  K Short contracts were added by FII’s. Net Open Interest increased  by 2.9 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 0.92.  Volatility is here- Tips For Traders In Volatile Markets
  • As Discussed in Last Analysis  Bearish case worked perfectly and below is my analysis on Facebook during market hours we discussed 10850 i strong support low made was 10850.40 and we rallied 100 points in 10 Mins. Now Bulls need to close above 10944 for a move back to 11030/ 11089/11149. Bearish below 10850 for a move back to 10800/10730/10666. Nifty is bouncing again from the support zone of 10850-10870 our price time squaring level,suggesting its strong support, also closed above last quarterly level of 10930  suggesting we are trying to form bottom. ANy break of 10850 can see fast move towards 10800/10730.  Nifty bears got whipsawed below 10850 Bulls once above 10944 did a fast rally till 11030. Till we are holding 10944 we should rally towards 11089/11149. Beareish below 10920 for a move back to 10870/10820. Today 03 Oct is important trend change date.   Important intraday time for reversal can be at 11:33/2:40.  Bank Nifty continue to Hold Gann Angle, EOD Analysis

 

 

  • Nifty Oct Future Open Interest Volume is at 1.61 core with liquidation of 4.9 Lakh with increase in  cost of carry suggesting long position were closed today, NF Rollover cost @11075 closed below it.
  • 11200 CE  is having Highest OI  at 22.5  Lakh, resistance at 11200 followed by 11100 .10800-11300 CE added 8.2 lakh in OI so bears  added position in range of 11100-11200. FII bought 26.9 K CE and 7.1 K CE were shorted by them. Retail sold 8.4 K CE and 13.9 K CE were shorted  by them.

 

  • 11000 PE OI@29.9 Lakhs having the highest OI strong support at 10800 followed by 10950 . 10900-11500 PE added 4.2 Lakh in OI so bulls added position in range 10800-11100 PE. FII bought 12.8 K PE and 15.2 K  PE were shorted  by them. Retail bought 67.8 K PE and 63.8 K PE were shorted by them.
  • Total Future & Option trading volume at1 7.74 Lakh core with total contract traded at 1.62 lakh , PCR @0.85

 

 

Buy above 11030 Tgt 11055,11088 and 11116 (Nifty Spot Levels)

Sell below 10950 Tgt 10920,10890 and 10850 (Nifty Spot Levels)

Follow on Facebook https://www.facebook.com/Brameshs-Tech-14011718268586

Follow on Twitter:https://twitter.com/brahmesh

Leave a Reply