Nifty Analysis as Mercury Changing Speed

  • FII sold 7.1 K contract of Index Future worth 580 cores, Net OI has increased by 2.5 K contract, 2.3 K  Long contract were covered by FII and 4.8 K  short were added by FII. Net FII Long Short ratio at 0.82, So FII used fall to exit longs and enter  shorts.
  • As discussed in last analysis  Now Tomorrow being Weekly closing Bears will like to close below 12167 . Now Bears need to break 12167 for down move to continue towards 12100/12042. Bulls will get active above 12190 for a move back to 12250/12310.Bears got whipsawed below 12167 and Bulls once above 12190 did 12250 on Upside. We are seeing Mercury Speed Change on 26 So we can see good move on Monday. Bears below 12210 can see fall back to 12161/12210. Bulls above 12275 can rally back to 12345/12420.

  • Total Future & Option trading volume at 9.66  Lakh core with total contract traded at 1.09 lakh , PCR @0.91
  • Nifty Jan Future Open Interest Volume is at 1.23  Lakh core with liquidation of 2 Lakh with increase in cost of carry suggesting long position were closed today, NF Rollover cost @12302 closed below it.
  • 12300 CE is having Highest OI at 30 Lakh, resistance at 12300 followed by 12400 .12000-12400 CE liquidated 4.4 Lakh in OI so bears covered position in range of 12210-12300.FII bought 5.5 K CE and 16 K CE were shorted by them. Retailers bought 17.1 K CE and 24.1 K  CE were shorted by them.
  • 12000 PE OI@42.8 Lakhs having the highest OI strong support at 12100 followed by 12000 . 12000-12400 PE added 33 Lakh in OI so bulls added position in range 12000-12100.FII bought 13.9 K PE and 15.3 K PE were shorted by them. Retailers bought 131 K PE and 127 K PE were shorted by them.
  • FII’s bought 659 cores and DII’s bought 418 cores in cash segment.INR closed at 71.35

Buy Above 12275 Tgt 12297,12321 and 12345 (Nifty Spot Levels)

Sell Below 12210  Tgt 12174,12140 and 12122 (Nifty Spot Levels)

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