Nifty Ready for Big Move,EOD Analysis

  • As discussed in last analysis Now Bulls need a close above 11666 for upmove to continue towards 11740/11810/11888. Bears will get active below 11610 for a move back to 11570/11520. High made was 11714 so we missed target of 11740 and bears made low of 11573 near our target of 11570. As we have important time cycle date tomorrow so we should be ready for big move in nifty.Bulls need a close above 11630 for rally to continue till 11680/11734/11789. Bears will get active below 11570 for a move back to 11519/11465.
  • FII bought 13 K contract of Index Future worth 1328 cores, Net OI has increased by 15.5 K contract, 14.3 K  Long contract were added by FII and 1.2 K short were added by FII. Net FII Long Short ratio at 0.86, So FII used rise to enter longs and enter shorts.

  • Total Future & Option trading volume at 10.27 Lakh core with total contract traded at 1.43 lakh , PCR @0.95
  • Nifty Oct Future Open Interest Volume is at 1.49 core with addition of 12.6 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @11608 closed above it. 
  • 11700 CE is having Highest OI at 43.9 Lakh, resistance at 11700 followed by 11800 .11200-11700 CE added 6.8 Lakh in OI so bears added position in range of 11700-11600. FII sold 6 K CE and 3.5 K CE were shorted by them. Retail bought 126 K CE Long and 68.7 K CE were shorted by them.
  • 11500 PE OI@18.7 Lakhs having the highest OI strong support at 11500 followed by 11400 . 11000-11700 PE liqudiated 5.6 Lakh in OI so bulls covered position in range 11300-11400.FII Bought 9.9 K PE and 1.8 K shorted PE were covered by them. Retail bought 50.7 K PE Long and 50 K PE were shorted by them.
  • FII’s sold 557 cores and DII’s sold 985 cores in cash segment.INR closed at 71

Buy Above 11610 Tgt 11625,11650 and 11676 (Nifty Spot Levels)

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

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