Nifty Analysis as Mercury goes in Inferior Conjunction

  • FII bought 18 K contract of Index Future worth 1470 cores, Net OI has increased by 13 K contract,15.6 K Long contract were added by FII and 2.4 K shorts were covered by FII. Net FII Long Short ratio at 0.39, So FII used fall to enter longs and enter shorts.
  • As discussed in last analysis  Now if Nifty break 11783 we can see fast fall towards 11707/11666/11610. Bulls will get active above 11857 for a move back to 11910/11950. Low made was 11780 so 11783 was broken so bears will waiting for 11707/11666/11610. 11720 is important GANN Number so if we hold this level we can see rally back to 11774/11820 after gap down, Unable to hold this fall can extend towards 11666/11612. Today Mercury is going in Inferior Conjunction very important day.

  • Total Future & Option trading volume at 33.14 Lakh core with total contract traded at 1.61 lakh , PCR @0.90
  • Nifty Feb Future Open Interest Volume is at 83 Lakh core with liquidation of 24 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @12149 closed below it.
  • 11900 CE is having Highest OI at 47  Lakh, resistance at 118500 followed by 11900 .11900-12400 CE added 40 Lakh in OI so bears added position in range of 12000-12300.FII bought 2.9 K CE contract and 175 CE contract were sold by them,Retailers Bought 95 K CE contract  and 72 K CE contract  were sold by them.
  • 11700 PE OI@32 Lakhs having the highest OI strong support at 11700 followed by 11600. 11800-12300 PE liquidated 25 Lakh in OI so bulls covered position in range 12000-11900.FII sold 17.3 K PE contract and 1.4 K CE contract were sold by them,Retailers  Bought 67 K PE contract  and 48 K PE contract  were sold by them.
  • FII’s sold 2315 cores and DII’s bought 1565 cores in cash segment.INR closed at 71.90

Buy Above 11760 Tgt 11785,11810 and 11850  (Nifty Spot Levels)

Sell Below 11717 Tgt 11695,11660 and 11630  (Nifty Spot Levels)

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