Nifty Continue to correct below 11035,EOD Anaysis

  • FII’s bought 4 K contract of Index Future worth 274 cores 8.9 K Long contract were added by FII’s and 4.9 K Short contracts were added by FII’s. Net Open Interest increased  by 13.8 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 1.12. Learn How to Pull the Trigger on a Trade
  • As Discussed in Last Analysis  Bears will get active below 10920 for a move back to 10885/10830/10790. Bulls will get active above 11000 for a move back to 11050/11111. Bears were able to do the first target on downside and closed below 10920.Till we are below 10930 bears have upperhand and can go towards 10850/10814/10777. Bulls will get active above 10950 for a move back to 11000/11040/11100. We have time cycle confluence on 12-13 Feb so expect good move in Nifty in coming 2 days.

  • Nifty Feb Future Open Interest Volume is at 2.17 core with addition of 7.8 Lakh with  increase in  cost of carry suggesting short position were added  today, NF Rollover cost @10727 closed above it
  • 11000 CE  is having Highest OI  at 35.6 Lakh, resistance at 11000 followed by 11100 .10400-11000 CE added 2.9 lakh in OI so bears  added position in range of 10900-11000. FII bought 4.1 K CE and 1 K CE were shorted by them. Retail bought 79.9 K CE and 53.2 K CE were shorted by them.
  • 10700 PE OI@ 29.8 Lakhs having the highest OI strong support at 10900 followed by 10800 . 10500-11000 PE liquidated 11.7 Lakh in OI so bulls covered position in range 10700-10800 PE. FII bought 15.1 K PE and 2.6 K shorted PE were covered  by them. Retail bought 52.4 K PE and 54.2 K PE were shorted by them.
  • Total Future & Option trading volume at 5.46 Lakh core with total contract traded at 1 lakh , PCR @0.95

Buy above 10900 Tgt 10925,10950 and 10977 (Nifty Spot Levels)

Sell below 10870 Tgt 10860,10840 and 10810 (Nifty Spot Levels)

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