Nifty Analysis as Sun Conjunct Mercury

  • FII bought 3.2 K contract of Index Future worth 308 cores, Net OI has increased by 5.7  K contract, 4.4 K Long contract were added by FII and 1.2  K  short were covered by FII. Net FII Long Short ratio at 1.15, So FII used fall to enter longs and enter shorts.
  • As discussed in last analysis  We have important Astro date tomorrow which will decide the next trend in market.Bulls need to move above 12225 for a move back towards 12280/12321. Bears will get active below 12168 for a move back towards 12113/12058. Bulls failed to do the target of 12321 as high made was 12312, As  on 10 Jan we have Sun Conjunct Mercury so break of 12295 will see move on upside towards 12351/12400. Bears will get active below 12210 for a move back to 12146/12091.

  • Total Future & Option trading volume at 10.47 Lakh core with total contract traded at 1.17 lakh , PCR @0.97
  • Nifty Jan Future Open Interest Volume is at 1.32 Lakh core with addition of 1.18 Lakh with decrease in cost of carry suggesting short position were added today, NF Rollover cost @12302 closed above it.
  • 12300 CE is having Highest OI at 15.2 Lakh, resistance at 12300 followed by 12400 .11800-12300 CE added 19.7 Lakh in OI so bears added position in range of 12200-12100.FII bought 12.6 K CE and 10.8 K CE were shorted by them. Retailers bought 109  K CE and 93.2 K  CE were shorted by them.
  • 12000 PE OI@17.4 Lakhs having the highest OI strong support at 12200 followed by 12100 . 12000-12400 PE added 12 Lakh in OI so bulls added position in range 12100-12200.FII bought 18.9 K PE and 11.8 K PE were shorted by them. Retailers bought 64.5 K PE and 78.8 K PE were shorted by them.
  • FII’s bought 578 cores and DII’s sold  251 cores in cash segment.INR closed at 71.03

Buy Above 12266  Tgt 12280,12300 and 12321 (Nifty Spot Levels)

Sell Below 12210 Tgt 12185,12162 and 12140 (Nifty Spot Levels)

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