Nifty corrects 125 points on time cycle date

  • FII’s sold 2.6 K contract of Index Future worth 224 cores 3.4 K Long contract were added by FII’s and 6 K Short contracts were added by FII’s. Net Open Interest increased  by 9.6 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 1.12. How Do Professional Traders Think?
  • As Discussed in Last Analysis  09 is important trend change date so effect will be seen either Friday or Monday. Bears will get active below 11021 for a move back to 10970/10920. Bulls will get active above 11100 for a move back to 11162/11200. Bears had a field day below 11021 and did our find target of 10920 Low made was 10925 and we saw the effect of time cycle. 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.
  • Important intraday time for reversal can be at 1:08/2:48. Bank Nifty forms DOJI on Time Cycle Date

  • Nifty Feb Future Open Interest Volume is at 2.09 core with liquidation of 2.4 Lakh with  decrease in  cost of carry suggesting short position were added  today, NF Rollover cost @10727 closed above it
  • 11000 CE  is having Highest OI  at 37.3 Lakh, resistance at 11100 followed by 11200 .10400-11000 CE added 5 lakh in OI so bears  added position in range of 10900-11000. FII bought 20.9 K CE and 612  CE were shorted by them. Retail bought 77.2 K CE and 58.6 K CE were shorted by them.
  • 10700 PE OI@ 31.4 Lakhs having the highest OI strong support at 10900 followed by 10800 . 10500-11000 PE liquidated 28.3 Lakh in OI so bulls covered position in range 10700-10800 PE. FII bought 7.2 K PE and 2.3 K shorted PE were covered  by them. Retail sold 20.8 K PE and 2.7 K PE were shorted by them.
  • Total Future & Option trading volume at 5.97 Lakh core with total contract traded at 1.50 lakh , PCR @0.94

Buy above 10970 Tgt 10990,11015 and 11050 (Nifty Spot Levels)

Sell below 10920 Tgt 10895,10860 and 10830 (Nifty Spot Levels)

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