Nifty ready for a Big Move

  • FII bought 3 K contract of Index Future worth 208 cores, Net OI has increased by 42 contract, 1.5 K Long contract were added by FII and 1.4  K  short were covered by FII. Net FII Long Short ratio at 1.20, So FII used fall to enter longs and exit shorts.
  • As discussed in last analysis  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. Low made was 12285 so bulls above 12295 did 122237 waiting for the target of  12351/12400. As per Astro analysis big move round the corner. Bulls need to hold 12285 for upmove to continue till 12351/12400.12351 is very important level as 4 cycle starting from 10637 is getting over. Bears will get active below 12260 for a move back to 12213/12157.

  • Total Future & Option trading volume at 8.74 Lakh core with total contract traded at 0.74 lakh , PCR @1.01
  • Nifty Jan Future Open Interest Volume is at 1.32 Lakh core with liquidation of 0.02 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 17 Lakh, resistance at 12300 followed by 12400 .11800-12300 CE added 12 Lakh in OI so bears added position in range of 12200-12100.FII bought 1.2 K CE and 3.3 K CE were shorted by them. Retailers bought 77  K CE and 66 K  CE were shorted by them.
  • 12000 PE OI@19 Lakhs having the highest OI strong support at 12200 followed by 12100 . 12000-12400 PE added 110 Lakh in OI so bulls added position in range 12100-12200.FII bought 15.6 K PE and 8.6 K PE were shorted by them. Retailers bought 122 K PE and 99 K PE were shorted by them.
  • FII’s bought 68 cores and DII’s bought 47  cores in cash segment.INR closed at 70.97

Buy Above 12351  Tgt 12369,12393 and 12421 (Nifty Spot Levels)

Sell Below 12310 Tgt 12285,12265 and 12245 (Nifty Spot Levels)

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