Nifty forms Inside Bar on Gann Pressure date

  • FII bought 13.7K contract of Index Future worth 1391 cores, Net OI has decreased by 3.3 K contract, 5.2 K Long contract were added by FII and 8.5 K  short were covered by FII. Net FII Long Short ratio at 1.14, So FII used fall to enter longs and exit shorts.
  • As discussed in last analysis     Now bears need to break 11958 for fall to continue till 11905. Range of 11881-11910 is strong support zone. Bulls will get active above 12050 for a move back to 12100/12179. We opened with a gap up above our levels and we were able to capture the whole downside move as per update given on Twitter. We have formed an Inside Bar Candle today on Gann Turn date, Bulls need to move above 12100 for a move back towards 12150/12217/12280. Bears will get active below 12042 for a move back to 11987/11932.

  • Total Future & Option trading volume at 18.28 Lakh core with total contract traded at 1.64 lakh , PCR @1.03
  • Nifty Jan Future Open Interest Volume is at 1.20 Lakh core with addition of 0.51 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @12302 closed below it.
  • 12200 CE is having Highest OI at 30 Lakh, resistance at 12200 followed by 12300 .11800-12300 CE added 40 Lakh in OI so bears added position in range of 12200-12100.FII bought 13.1 K CE and 4.1 K CE were shorted by them. Retailers bought 35.6 K CE and 36 K  CE were shorted by them.
  • 11900 PE OI@18 Lakhs having the highest OI strong support at 11900 followed by 11800 . 12000-12400 PE liquidated 5 Lakh in OI so bulls covered position in range 12100-12200.FII bought 33 K PE and 30 K PE were shorted by them. Retailers bought 78 K PE and 59 K PE were shorted by them.
  • FII’s sold 682 cores and DII’s bought 311 cores in cash segment.INR closed at 71.55

Buy Above 12070  Tgt 12100,12125 and 12150 (Nifty Spot Levels)

Sell Below 12040 Tgt 12010,11990 and 11950 (Nifty Spot Levels)

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