Nifty Weekly Expiry Analysis amid US-Iran Tension

  • FII sold 13.8 K contract of Index Future worth 1214 cores, Net OI has increased by 5.6 K contract, 4.1 K Long contract were covered by FII and 9.7 K  short were added by FII. Net FII Long Short ratio at 0.94, So FII used fall to exit longs and enter shorts.
  • As discussed in last analysis  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. Nifty opened with gap down High made today was 12044 Low made in opening was 11929 near our 2 target of 11932, so Gann levels were respected till precision so traders who missed short in opening were able to enter short and were rewarded. Now we will open gap up tomorrow. Bulls need to move above 12111 for a move back towards 12160/12200. Bears will get active below 11999 for a move back to 11954/11910.

  • Total Future & Option trading volume at 17.85  Lakh core with total contract traded at 1.53 lakh , PCR @0.89
  • Nifty Jan Future Open Interest Volume is at 1.20 Lakh core with addition of 0.07 Lakh with decrease in cost of carry suggesting short position were closed today, NF Rollover cost @12302 closed below it.
  • 12200 CE is having Highest OI at 29.5 Lakh, resistance at 12150 followed by 12200 .11800-12300 CE liquidated 3.7 Lakh in OI so bears covered position in range of 12200-12100.FII bought 3.9 K CE and 1.3  K shorted CE were covered by them. Retailers sold 37 K CE and 20 K shorted CE were covered by them.
  • 11900 PE OI@21.4 Lakhs having the highest OI strong support at 11900 followed by 11800 . 12000-12400 PE added 7.6 Lakh in OI so bulls added position in range 12100-12200.FII sold 8.7 K PE and 17.2 K PE were shorted by them. Retailers bought 137 K PE and 86 K PE were shorted by them.
  • FII’s sold 515 cores and DII’s bought 748 cores in cash segment.INR closed at 71.80

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

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

Upper End of Expiry : 12123

Lower End of Expiry : 11926

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