Nifty Technical Analysis for 29 Jan

  • FII sold 7.8 K contract of Index Future worth 540 cores, Net OI has increased by 9.6 K contract, 919  Long contract were added by FII and 8.7 K  short were added by FII. Net FII Long Short ratio at 0.63, So FII used fall to enter longs and enter  shorts.
  • As discussed in last analysis Mercury Speed Change was Astro Date and when combined with price 12210 we has a good set up. High made was 12216 and once below 12210 we did both target on downside 12161/12120. Bears need to break 12105 for the downmove to continue towards 12050/11995/11941. Bulls have change above 12162 for a move back to 12216/12280/12343. High made was 12163 so bulls unable to move above 12164 and bears once below 12105 did 12050. Now till we are below 12105 bears can push towards 11995/11941. Bulls have chance above 12162 for a move back to 12216/12280/12343

  • Total Future & Option trading volume at 15.65 Lakh core with total contract traded at 1.32 lakh , PCR @0.88
  • Nifty Feb Future Open Interest Volume is at 40 Lakh core with addition of 15.4 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @12302 closed below it.
  • 12100 CE is having Highest OI at 35.3 Lakh, resistance at 12100 followed by 12200 .12000-12400 CE added 16.4 Lakh in OI so bears covered position in range of 12200-12300.FII sold 3.8 K CE and 14.4 K CE were shorted by them. Retailers bought 116 K CE and 62.5 K  CE were shorted by them.
  • 12000 PE OI@50 Lakhs having the highest OI strong support at 12000 followed by 11950. 12000-12400 PE added 3 Lakh in OI so bulls added position in range 12000-12100.FII bought 9.5 K PE and 1.4 K shorted PE were covered by them. Retailers sold 6.1 K PE and 2.7 K PE were shorted by them.
  • FII’s sold 1357 cores and DII’s bought 711 cores in cash segment.INR closed at 71.36

Buy Above 12070 Tgt 12094,12120 and 12140 (Nifty Spot Levels)

Sell Below 12022 Tgt 12000,11977 and 11942 (Nifty Spot Levels)

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