Nifty Trading Levels for 17 Jan

  • FII sold 6.6 K contract of Index Future worth 586 cores, Net OI has increased by 3 K contract, 4.8 K Long contract were covered by FII and 11.3 K  short were added by FII. Net FII Long Short ratio at 0.97, So FII used fall to exit longs and enter shorts.
  • As discussed in last analysis  Bears will get active below 12260 for a move back to 12213/12157.Bulls need to move above 12389 for a move back to 12444/12500.High made was 12389 so bulls unable to break 12389. We have mercury Ingress today so today high and low are very important.Bulls need to break 12389 for a move back to 12444/12500. Bears will get active below 12310 for 12277/12222.

  • Total Future & Option trading volume at 32 Lakh core with total contract traded at 0.83 lakh , PCR @0.75
  • Nifty Jan Future Open Interest Volume is at 1.33  Lakh core with addition of 0.31 Lakh with decrease in cost of carry suggesting short position were closed today, NF Rollover cost @12302 closed above it.
  • 12400 CE is having Highest OI at 11.7 Lakh, resistance at 12400 followed by 12500 .12000-12400 CE added 24 Lakh in OI so bears added position in range of 12400-12500.
  • 12300 PE OI@17 Lakhs having the highest OI strong support at 12300 followed by 12200 . 12000-12400 PE added 34 Lakh in OI so bulls added position in range 12100-12200.
  • FII’s sold 395 cores and DII’s sold 184 cores in cash segment.INR closed at 70.99

Buy Above 12365  Tgt 12389,12421 and 12444 (Nifty Spot Levels)

Sell Below 12333  Tgt 12306,12277 and 12250 (Nifty Spot Levels)

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