Nifty Ready for Big move

  • As Discussed in Last Analysis   Nifty Bulls need to close above 11390 for a move back to 11444/11500/11570. Bears will get active below 11300 for a move back to 11240/11180.  Bears were able to do 11257 only. As we have RBI Policy outcome by 11:45 tomorrow and today we had mercury ingress suggesting good move on cards.  Nifty Bulls need to close above 11376 for a move back to 11460/11520/11570. Bears will get active below 11240 for a move back to 11194/11141/11100
  • FII sold 12.8 contract of Index Future worth 1062 cores, Net OI has increased by 4.9 K contract, 3.9 K Long contract were liquidated by FII and 8.8 K short were added by FII. Net FII Long Short ratio at 0.51, So FII used fall to exit longs and enter shorts.

  • Total Future & Option trading volume at 27 Lakh core with total contract traded at 1.43 lakh , PCR @0.70
  • Nifty Oct Future Open Interest Volume is at 1.54 core with addition of 7.8 Lakh with increase in  cost of carry suggesting long position were added today, NF Rollover cost @11608 closed below it. 
  • 11500 CE is having Highest OI at 22.3 Lakh, resistance at 11500 followed by 11600 .11200-11700 CE added 11.6 Lakh in OI so bears added position in range of 11500-11600.
  • 11000 PE OI@22 Lakhs having the highest OI strong support at 11200 followed by 11000 . 11000-11700 PE added 8.8 Lakh in OI so bulls added position in range 11400-11600.
  • FII’s  sold 810 cores and DII’s bought 862 cores in cash segment.INR closed at 71.03

Buy Above 11333 Tgt 11350,11370 and 11400 (Nifty Spot Levels)

Sell Below 11300 Tgt 11270,11230 and 11190 (Nifty Spot Levels)

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