Nifty give Relief Rally above Time Cycle High,EOD Analysis

  • FII’s sold 16.7 K contract of Index Future worth 1486 cores ,1.5 K Long contract were added by FII’s and 18.2 K Short contracts were added by FII’s. Net Open Interest increased  by 19.7 K contract, so rise in Nifty was used by FII’s to enter long and enter short in  Index futures.  FII’s Long to Short Ratio at 0.56.  Understanding Stock Market Crash
  • As Discussed in Last Analysis  High made was 10397 so bulls unable to break 10410 but got whipsawed around 10300. As per time analysis today high and low are important and break of any side can easily give 75-100 points move. Bullish above 10410 for rally towards 10470/10555/10610. Bearish below 10280 for a move back to 10200/10125. High made today was 10482 so we got 72 points rally above 10410. Bulls need a close above 10482 for a move back to 10530/10570/10610. Bearish below 10410 for a move back to 10370/10333/10270.Important intraday time for reversal can be at 10:19/12:40/2:16. Bank Nifty Bulls rallies 500 points on break of time cycle high,EOD Analysis

  • Nifty Oct Future Open Interest Volume is at 1.97 core with addition of 2 Lakh with increase in  cost of carry suggesting Short position were added today, NF Rollover cost @11075 closed below it.
  • 10500 CE  is having Highest OI  at 25 Lakh, resistance at 10500 followed by 10600 .10200-11000 CE liquidated 25 lakh in OI so bears  covered position in range of 10500-10600. FII bought 3.1 K CE and 6.9 K CE were shorted by them. Retail sold 79 K CE and 39 K shorted  CE were covered by them.

 

  • 10000 PE OI@37.7 Lakhs having the highest OI strong support at 10300 followed by 10200 . 10000-10500 PE liquidated 15.7 Lakh in OI so bulls covered position in range 10400-10500 PE, so rally was used to exit long not to create longs suggesting it can fizzle out if 10410 gets broken again.. FII bought 3.8 K PE and 1 K  PE were shorted  by them. Retail bought 132 K PE and 60.1 K PE were shorted by them.
  • Total Future & Option trading volume at1 11.94 Lakh core with total contract traded at 1.68 lakh , PCR @0.89

 

  • FII’s sold 1096 cores  and DII’s bought 1892 cores in cash segment.INR closed at 74.21.

 

Buy above 10480 Tgt 10500,10522 and 10555 (Nifty Spot Levels)

Sell below 10410 Tgt 10370,10333 and 10300 (Nifty Spot Levels)

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