Nifty Does 10900,EOD Analysis

  • FII’s sold 6.1 K contract of Index Future worth 319 cores 1.4 K Long contract were added by FII’s and 7.5 K Short contracts were added by FII’s. Net Open Interest increased  by 9 K contract, so rise in Nifty was used by FII’s to enter  long and exit short in  Index futures.FII’s Long to Short Ratio at 0.87 .Is Your Trading Brain Not letting you Succeed in Trading ?
  • As Discussed in Last Analysis  Nifty traded within the range formed inside bar pattern and did not break high or low of time cycle and went to 2 day of consolidation suggesting we should get a big move in next 2 days as 17 Dec is again very important time cycle date. Bulls will get active above 10816 for a move towards 10882/10941. 10882 done today now bulls need to close above 10890 for the upmove to continue towards 10931/11000. Bears will get active below 10815 for a move back to 10777/10721/10666. Important intraday time for reversal can be at 12:19/2:33. Bank Nifty Close above 27000,EOD Analysis
  • Nifty Dec Future Open Interest Volume is at 2.09 core with liquidation of 0.86 Lakh with  increase in  cost of carry suggesting long position were closed today, NF Rollover cost @10727 closed above  it.
  • 11000 CE  is having Highest OI  at 44.4 Lakh, resistance at 10900 followed by 11000 .10400-11000 CE liquidated 11.6 lakh in OI so bears  covered position in range of 10800-11000. FII bought 413 CE and 2.3 K CE were shorted by them. Retail bought 41.8 K CE and 32.4 K CE were shorted by them.
  • 10500 PE OI@ 42.6 Lakhs having the highest OI strong support at 10600 followed by 10500 . 10500-11000 PE added 23.7 Lakh in OI so bulls added position in range 10400-10500 PE. FII bought 6.9 K PE and 9.9 K PE were shorted by them. Retail bought 145 K CE and 94.9 K CE were shorted by them.
  • Total Future & Option trading volume at1 5.24 Lakh core with total contract traded at 0.91  lakh , PCR @1

Buy above 10900 Tgt 10931,10966 and 11000 (Nifty Spot Levels)

Sell below 10855 Tgt 10823,10800 and 10777 (Nifty Spot Levels)

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