Nifty Analysis for Muhurat Trading session

  • As discussed in last analysis  Bulls need a close above 11610 for rally to continue till 11660/11715. Bears will get active below 11570 for a move back to 11520/11457. 11520 done, Bulls need a close above 11610 for rally to continue till 11666/11715. Bears will get active below 11570 for a move back to 11520/11457.
  • FII sold 12.9 K contract of Index Future worth 995 cores, Net OI has increased by 3.8 K contract, 4.4 K  Long contract were covered by FII and 8.4 K short were added by FII. Net FII Long Short ratio at 0.67, So FII used rise to exit longs and enter shorts.

  • Total Future & Option trading volume at 9.24 Lakh core with total contract traded at 1.44 lakh , PCR @0.97
  • Nifty Nov Future Open Interest Volume is at 2.03 core with addition  of 2.6 Lakh with increase in cost of carry suggesting short position were closed today, NF Rollover cost @11608 closed above it. 
  • 11700 CE is having Highest OI at 29 Lakh, resistance at 11700 followed by 11800 .11200-11700 CE added 17 Lakh in OI so bears added position in range of 11700-11600.FII bought 20K CE and 10 K CE were shorted by them. Retailers bought 57.8 K CE and 40.3 K CE were shorted by them.
  • 11500 PE OI@22.5 Lakhs having the highest OI strong support at 11500 followed by 11400 . 11000-11700 PE added 5 Lakh in OI so bulls added position in range 11400-11500. FII bought 25 K PE and 14.9  K PE were shorted by them. Retailers bought 82.2 K PE and 70.8 K PE were shorted by them.
  • FII’s sold 72 cores and DII’s sold 738 cores in cash segment.INR closed at 70.90

Buy Above 11610 Tgt 11635,11657 and 11680 (Nifty Spot Levels)

Sell Below 11570 Tgt 11550,11530 and 11500 (Nifty Spot Levels)

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