Nifty Weekly Expiry Analysis

  • As discussed in last analysis 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. We formed another DOJI today on time cycle date, tomorrow as we have election results and weekly expiry  so break of high and low of today can easily see 100-150 points move in nifty.Bulls need a close above 11651 for rally to continue till 11700/11743. Bears will get active below 11555 for a move back to 11506/11457.  
  • FII sold 4.8 K contract of Index Future worth 346 cores, Net OI has increased by 2.5 K contract, 1.1 K  Long contract were covered by FII and 3.6 K short were added by FII. Net FII Long Short ratio at 0.81, So FII used rise to enter longs and enter shorts.

  • Total Future & Option trading volume at 12.78 Lakh core with total contract traded at 1.23 lakh , PCR @0.90
  • Nifty Oct Future Open Interest Volume is at 1.45 core with liquidation of 3.3 Lakh with decrease in cost of carry suggesting short position were closed 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 209 CE and 6.8 K CE were shorted by them. Retail bought 69.8 K CE were bought and 39.4 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 14.2 K PE and 784 shorted PE were covered by them. Retail bought 37.6 K PE Long and 27 K PE were shorted by them.
  • FII’s sold 213 cores and DII’s sold 137 cores in cash segment.INR closed at 70.95

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

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

Upper End of Expiry : 11704

Lower End of Expiry : 11503

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