Technical Chart Analysis for Nifty

  • FII’s bought 5.6 K contract of Index Future worth 485 cores 3.9 K Long contract were added by FII’s and 1.6 K Short contracts were covered by FII’s. Net Open Interest increased  by 2.3  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.Trading Mindset of Successful Traders
  • As Discussed in Last Analysis Low made today was 10852 So Bulls Protected Price Time Squaring Level of 10844,till we are holding 10844 we have done price time squaring and heading higher towards 10977/11040/11100. Bears will become active below 10840 for a move back to 10790/10730. High made today was 10987 so we did the target of 10977 and also closed above 10935 and till we are holding 10935 we can move towards 11035/11100. Bears will get active below 10870 for a move back to 10821/10777. Important intraday time for reversal can be at 12:25/2:11.Technical Chart Analysis for Bank Nifty

  • Nifty Jan Future Open Interest Volume is at 2.47 core with addition of 2.2 Lakh with  decrease in  cost of carry suggesting long position were added today, NF Rollover cost @10788 closed above it.
  • 11000 CE  is having Highest OI  at 32.6  Lakh, resistance at 10900 followed by 11000 .10400-11000 CE liquidated 9.5 lakh in OI so bears  covered position in range of 10900-11000. FII bought 12.9 K CE and 676 shorted CE were covered by them. Retail bought 1 K CE and 13 K CE were shorted by them
  • 10700 PE OI@ 36.3 Lakhs having the highest OI strong support at 10700 followed by 10600 . 10500-11000 PE added 13.4 Lakh in OI so bulls added position in range 10700-10800 PE. FII sold 1.5 K PE and 5 K PE were shorted by them. Retail bought 61.2 K PE and 33.1 K PE were shorted by them.
  • Total Future & Option trading volume at 5.47 Lakh core with total contract traded at 1.19 lakh , PCR @0.88

Buy above 10977 Tgt 10999,11030 and 11050 (Nifty Spot Levels)

Sell below 10930 Tgt 10901,10866 and 10843 (Nifty Spot Levels)

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