Nifty does a range breakdown,EOD Analysis

  • FII’s sold 2.6 K contract of Index Future worth 314 cores 5.2 K Long contract were liquidated by FII’s and 2.5 K Short contracts were liquidated by FII’s. Net Open Interest decreased  by 7.8 K contract, so fall in Nifty was used by FII’s to exit long and exit short in  Index futures.FII’s Long to Short Ratio at 0.84.Trading Mindset of Successful Traders
  • As Discussed in Last Analysis   Traders can play this range 10845-10987 till we do not see a breakout. Bears will get active below 10843 for a move back to 10777/10730. Bulls will get active above 10987 for a move back to 11050/11111. Nifty did a range breakdown below 10843 and now we are waiting for a target of 10777/10730. Bulls will become active above 10900 for a move back to 10951/10987. Important intraday time for reversal can be at 11:19/1:10. Bank Nifty Weekly Expiry Analysis

  • Nifty Jan Future Open Interest Volume is at 2.43  core with addition of 0.05 Lakh with  increase in  cost of carry suggesting long position were closed today, NF Rollover cost @10788 closed above it.
  • 11000 CE  is having Highest OI  at 43.1  Lakh, resistance at 10900 followed by 11000 .10400-11000 CE added 24lakh in OI so bears  added position in range of 10900-11000. FII sold 2.4 K CE and 25.9 K CE were shorted by them. Retail sold 56.8 K CE and 20 K CE were shorted PE were covered by them
  • 10700 PE OI@ 30.4 Lakhs having the highest OI strong support at 10700 followed by 10600 . 10500-11000 PE liquidated 12 Lakh in OI so bulls covered position in range 10700-10800 PE. FII bought 26.4  K PE and 4.3 K PE were shorted by them. Retail sold 32.8 K PE and 6.3 K PE were shorted by them.
  • Total Future & Option trading volume at 8.22 Lakh core with total contract traded at 1.02 lakh , PCR @0.92

Buy above 10865 Tgt 10890,10913 and 10949 (Nifty Spot Levels)

Sell below 10810 Tgt 10790,10777 and 10750 (Nifty Spot Levels)

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