Nifty Oct Expiry Analysis

  • As discussed in last analysis  11715 done,Now Bulls need to hold 11700-11715 for the upmove to continue towards 11888/11950. Bears will get active below 11740 for a move back to 11666/11610. 11888 done, we are approaching the zone of resistance at 11900-11920 unable to cross the same we can expect a pullback. Bulls need to hold 11784-11800 range for the upmove towards 11890/11937. Bears will get active below 11780 for a move back to 11710/11666.
  • FII bought 13.8 K contract of Index Future worth 1243 cores, Net OI has increased by 8.7 K contract, 13.5 K  Long contract were added by FII and 281 short were covered by FII. Net FII Long Short ratio at 0.80, So FII used rise to enter longs and exit shorts.

  • Total Future & Option trading volume at 14 Lakh core with total contract traded at 1.76 lakh , PCR @0.94
  • Nifty Nov Future Open Interest Volume is at 84.4 Lakh with addition  of 36 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @11608 closed above it. 
  • 11900 CE is having Highest OI at 20 Lakh, resistance at 11900 followed by 11950 .11200-11700 CE liquidated 6.6 Lakh in OI so bears covered  position in range of 11700-11600. FII bought 27.3 K CE and 8.4 K CE were shorted by them. Retailers bought 56 K CE and 58 K CE were shorted by them.
  • 11700 PE OI@28 Lakhs having the highest OI strong support at 11700 followed by 11600 . 11000-11700 PE added 5.9 Lakh in OI so bulls added position in range 11400-11500.FII bought 44.3 K PE and 42 K PE were shorted by them. Retailers bought 48 K PE and 35.3 K PE were shorted by them.
  • FII’s bought 7192 cores and DII’s sold 185 cores in cash segment.INR closed at 71.10

Buy Above 11876 Tgt 11900,11921 and 11947 (Nifty Spot Levels)

Sell Below 11830 Tgt 11810,11790 and 11777 (Nifty Spot Levels)

Upper End of Expiry : 11947

Lower End of Expiry : 11740

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