Nifty Analysis after Maharashtra Political Drama

  • FII sold 8.8 K contract of Index Future worth 823 cores, Net OI has decreased by 8.3 K contract, 8.5 K  Long contract were liquidated by FII and 232 short were added by FII. Net FII Long Short ratio at 0.52, So FII used rise to exit longs and enter shorts.
  • As discussed in last analysis   Fresh Long should be taken above 12002 for a move back to 12051/12104. Bears will get active below 11950 for a move back to 11885/11821. 11883 done so we did our 1 target below 11950. Now Bulls need to move above 11920 for a move back to 11977/12038. Bears will get active below 11876 for a move towards 11821/11777.

  • Total Future & Option trading volume at 23 Lakh core with total contract traded at 0.89  lakh , PCR @0.80
  • Nifty Nov Future Open Interest Volume is at 1.32 Lakh core with liquidation of 12 Lakh with increase in cost of carry suggesting short  position were closed today, NF Rollover cost @11814 closed above it.

 

  • 12000 CE is having Highest OI at 40 Lakh, resistance at 12000 followed by 12100 .11500-12000 CE added 20 Lakh in OI so bears added position in range of 12000-12200. FII bought 10.5 K CE and 15.7 K CE were shorted by them. Retailers bought 151 K CE and 98 K  CE were shorted by them.
  • 11800 PE OI@30Lakhs having the highest OI strong support at 11900 followed by 11800 . 11500-12000 PE added 6 Lakh in OI so bulls added position in range 11900-11850.FII bought 22 K PE and 7.8 K PE were shorted by them. Retailers bought 18 K PE and 57.7 K PE were shorted by them.
  • FII’s bought 305 cores and DII’s sold 177 cores in cash segment.INR closed at 71.84

Buy Above 11920 Tgt 11943,11970 and 12000 (Nifty Spot Levels)

Sell Below 11875 Tgt 11850,11821 and 11800 (Nifty Spot Levels)

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