Nifty EOD Analysis for 24 Jan

  • FII sold 6.4 K contract of Index Future worth 416 cores, Net OI has increased by 3.4 K contract, 1.5 K  Long contract were covered by FII and 4.9 K  short were added by FII. Net FII Long Short ratio at 0.87, So FII used fall to exit longs and enter  shorts.
  • As discussed in last analysis   Now Bears need to break 12080 for down move to continue towards 12042/11988. Bulls will get active above 12160 for a move back to 12225/12275. Tomorrow is important Astro Date. Low made was 12094 near gann angle as shown in below chart so bears unable to break 12080 and bulls unable to do target above 12080 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.

  • Total Future & Option trading volume at 34  Lakh core with total contract traded at 1.09 lakh , PCR @0.81
  • Nifty Jan Future Open Interest Volume is at 1.25  Lakh core with liquidation of 2.7 Lakh with increase in cost of carry suggesting short position were closed today, NF Rollover cost @12302 closed below it.
  • 12200 CE is having Highest OI at 28 Lakh, resistance at 12200 followed by 12250 .12000-12400 CE liquidated 14 Lakh in OI so bears covered position in range of 12200-12300.
  • 12000 PE OI@15.2 Lakhs having the highest OI strong support at 12100 followed by 12000 . 12000-12400 PE added 12 Lakh in OI so bulls added position in range 12000-12100.
  • FII’s bought 1352  cores and DII’s sold 984 cores in cash segment.INR closed at 71.30

Buy Above 12190 Tgt 12212,12230 and 12254 (Nifty Spot Levels)

Sell Below 12167  Tgt 12141,12120 and 12095 (Nifty Spot Levels)

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