Nifty Trading Levels for 03 Jan

  • FII sold 3.6  K contract of Index Future worth 235 cores, Net OI has increased by 966 contract, 1.3 K Long contract were liquidated by FII and 2.2 K  short were added by FII. Net FII Long Short ratio at 1.21, So FII used rise to exit longs and enter shorts.
  • As discussed in last analysis   Nifty has broken the low of Mercury Ingress and did our 1 target of 12151 and  now we are waiting for target of 12080.Bulls will get active above 12250 for a move back to 12290/12351. Bears failed to do 2 target of 12080, above 12250 bulls were active and did our 1 target of 12290. Now till we are holding 12250 we can rally towards 12351/12400. Bears will get active below 12225 for a move back to 12161/12125.

  • Total Future & Option trading volume at 28 Lakh core with total contract traded at 0.93 lakh , PCR @0.76
  • Nifty Jan Future Open Interest Volume is at 1.24 Lakh core with addition of 4.3 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 19.1 Lakh, resistance at 12300 followed by 12400 .11800-12300 CE added 11 Lakh in OI so bears added position in range of 12300-12400.
  • 12200 PE OI@19.2 Lakhs having the highest OI strong support at 12200 followed by 12100 . 12000-12400 PE added 24 Lakh in OI so bulls added position in range 12100-12200.
  • FII’s bought 688 cores and DII’s bought 63 cores in cash segment.INR closed at 71.50

Buy Above 12295  Tgt 12312,12335 and 12351 (Nifty Spot Levels)

Sell Below 12255 Tgt 12233,12210 and 12185 (Nifty Spot Levels)

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