Nifty Whipsaw Both Bull and Bear,EOD Analysis

By | November 15, 2018 1:00 am

  • FII’s bought 292  contract of Index Future worth 91 cores ,3 K Long contract were added by FII’s and 2.7 K  Short contracts were added by FII’s. Net Open Interest increased  by 5.8 K contract, so fall in Nifty was used by FII’s to enter long and enter short in  Index futures.FII’s Long to Short Ratio at 0.60. Time Cycle Stock Scanner for 11-16 Nov
  • As Discussed in Last Analysis  Now Bulls need a close above 10610 for rally to sustain all the way till 10666/10712. Bearish below 10540 for a move back to 10485/10410.Another failed attempt to close above 10600 by bulls and low made was 10532 so bears also got whipsawed, Now Nifty is forming a range after a swift rally of 500 points from 10100-10600. As i have discussed before range of 10610-10630 is very imp supply zone as of now Bulls are absorbing the supply but need a close above 10630 for a swift rally till 10710/10777. Bears will get active below 10512 for a move back to 10470/10410. Important intraday time for reversal can be at 1:14/3:03. Bank Nifty break out of gann angle,EOD Analysis

 

 

  • Nifty Nov Future Open Interest Volume is at 2.37 core with liquidation of 3 Lakh with decrease in  cost of carry suggesting short position were closed today, NF Rollover cost @10243 closed above it and rallied 400 points

 

  • 10800 CE  is having Highest OI  at 29.2 Lakh, resistance at 10650 followed by 10700 .10200-10900 CE added 6.8 lakh in OI so bears  added position in range of 10600-10800. FII bought 425 CE and 2.5  K
  • shorted CE were  covered by them. Retail bought 39.2  K CE and 11.5 K CE were shorted  by them.

 

  • 10500 PE OI@25.3  Lakhs having the highest OI strong support at 10500 followed by 10400 . 10000-10700 PE added 0.03 Lakh in OI so bulls added position in range 10400-10500 PE. FII bought 8  K PE and 116 shorted  PE were covered  by them. Retail bought 47.4 K PE and 41.2 K PE were shorted  by them.
  • Total Future & Option trading volume at1 10 Lakh core with total contract traded at 1.59 lakh , PCR @0.97

 

 

Buy above 10590 Tgt 10610,10635 and 10666 (Nifty Spot Levels)

Sell below 10555 Tgt 10540,10510 and 10485 (Nifty Spot Levels)

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Category: Daily

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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