Nifty Ready for Trending move

  • As discussed in last analysis Bulls will become active above 11321 for a move back to 11362/11400. Range of 11370-11400 is crucial zone,Bulls need a close above 11400 for positive move to come towards 11600. Bears will get active below 11270 for a move back to 11230/11180. High made was 11420 but bulls failed to close above 11400. Time Cycle suggests trending move round the corner, Bulls need to move above 11350 for a move back to 11400/11481. Bears will get active below 11280 for a move back to 11230/11185.
  • FII bought 12.2 K contract of Index Future worth 974 cores, Net OI has decreased by 3.8 K contract, 4.2 K Long contract were added by FII and 8 K short were covered by FII. Net FII Long Short ratio at 0.59, So FII used fall to enter longs and exit shorts.

  • Total Future & Option trading volume at 8.52 Lakh core with total contract traded at 1.51 lakh , PCR @0.87
  • Nifty Oct Future Open Interest Volume is at 1.43 core with liquidation of 3.7 Lakh with decrease in  cost of carry suggesting long position were closed today, NF Rollover cost @11608 closed below it. 
  • 11500 CE is having Highest OI at 23.5  Lakh, resistance at 11500 followed by 11600 .11200-11700 CE liquidated 4.1 Lakh in OI so bears covered position in range of 11500-11600.FII bought 11.8 K CE and 10.3 K CE were shorted by them, Retailers bought 30 K CE and 24.2 K CE were shorted by them.
  • 11000 PE OI@27 Lakhs having the highest OI strong support at 11200 followed by 11000 . 11000-11700 PE added 2.6 Lakh in OI so bulls added position in range 11200-11300.FII bought 10.5 K PE and 6.3 K PE were shorted by them, Retailers bought 77 K PE and 47.4 K PE were shorted by them.
  • FII’s bought 895 cores and DII’s sold 425 cores in cash segment.INR closed at 71.28

Buy Above 11350 Tgt 11376,11393 and 11411 (Nifty Spot Levels)

Sell Below 11310 Tgt 11290,11260 and 11230 (Nifty Spot Levels)

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