Nifty Analysis for 05 Feb

  • FII bought 3.4  K contract of Index Future worth 680 cores, Net OI has decreased by 8.7 K contract,2.6 K Long contract were covered by FII and 6 K  short were covered by FII. Net FII Long Short ratio at 0.25, So FII used fall to exit longs and exit shorts.
  • As discussed in last analysis  Now Bulls need to break 11760 for a move back to 11820/11881. Bears will get active below 11666 for a move back to 11610/11555.We did low of 11783 above 11760 and did all 3 target on upside.Now Bulls need to hold 11948-11940 range for rally to move above 12022/12080. Bears will get active below 11910 for a move back to11846/11800.

  • Total Future & Option trading volume at 16.47 Lakh core with total contract traded at 2 lakh , PCR @0.90
  • Nifty Feb Future Open Interest Volume is at 1.38 Lakh core with liquidation of 0.90 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @12149 closed below it.
  • 12000 CE is having Highest OI at 24.3Lakh, resistance at 12000 followed by 12100 .12200-12400 CE liquidated 6 Lakh in OI so bears covered position in range of 11800-12000.FII bought 22.8 K CE and 11.4 K shorted CE were covered by them. Retailers sold  187 K CE and 68 K shorted CE were covered by them.
  • 11800 PE OI@30 Lakhs having the highest OI strong support at 11800 followed by 11700. 11700-12200 PE added 63 Lakh in OI so bulls added position in range 11500-11800.FII bought 3 PE and13.4 K PE were shorted by them. Retailers bought 196 K PE and 117 K PE were shorted by them.
  • FII’s bought 366 cores and DII’s bought 601cores in cash segment.INR closed at 71.42

Buy Above 11990 Tgt 12022,12050 and 12080 (Nifty Spot Levels)

Sell Below 11910 Tgt 11885,11850 and 11821 (Nifty Spot Levels)

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