Nifty Ready for Big Move

  • FII sold 4.2  K contract of Index Future worth 428 cores, Net OI has decreased by 3.1 K contract,1.6 K Long contract were covered by FII and 2.5 K  short were added by FII. Net FII Long Short ratio at 0.21, So FII used fall to exit longs and enter shorts.
  • As discussed in last analysis   Bulls need to move above 12167 for rally to continue towards 12230/12300. Bears will get active below 12080 for a move back to 12020/11959.High made was 12154 so bulls unable to move above 12167,Bears went below 12080 but failed to close below it. As per time cycle we should see big move in Bank Nifty. Bulls need to move above 12115 for rally to continue towards 12167/12216. Bears will get active below 12070 for a move back to 12020/11959.

  • Total Future & Option trading volume at 8.96 Lakh core with total contract traded at 0.88 lakh , PCR @0.96
  • Nifty Feb Future Open Interest Volume is at 1.37 Lakh core with addition of 0.21 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @12149 closed below it.
  • 12200 CE is having Highest OI at 17.9 Lakh, resistance at 12200 followed by 12300 .12000-12400 CE added 33 Lakh in OI so bears added position in range of 12000-12100.FII bought 17.8 K CE and 6.2 K CE were shorted by them. Retailers bought  114 K CE and 108 K  CE were shorted by them.
  • 12000 PE OI@16.9 Lakhs having the highest OI strong support at 12000 followed by 11800. 12000-12200 PE added 17 Lakh in OI so bulls added position in range 12000-11800.FII bought 19.4 K PE and 17.5 K PE were shorted by them. Retailers bought  101 K PE and 114 K PE were shorted by them.
  • FII’s bought 162 cores and DII’s sold 178 cores in cash segment.INR closed at 71.53

Buy Above 12115 Tgt 12144,12169 and 12190 (Nifty Spot Levels)

Sell Below 12070 Tgt 12050,12028 and 12000 (Nifty Spot Levels)

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