Nifty Analysis as Supreme Court Decision on Interest Waiver Awaits

  • FII bought 16.7 K contract of Index Future worth 1284 cores, Net OI has increased by 2.6 K contract, 9.6 K Long contract were added by FII and 7  K Shorts were covered by FII. Net FII Long Short ratio at 1.1 So FII used fall to enter longs and exit shorts.
  • As Discussed in Last Analysis Nifty is near 200 DMA @10760 , so holding the same bull can see a relief rally towards 10890/10950/11025. Bears need to break 10765 for a move back to 10711/10669/10600. All Bullish target done, Now Supreme Court Decision on Interest Waiver will be declared on Monday so lot of volataltiy will be seen in Nifty, Trade as per Intraday timing provided below. Bulls need to move above 11111 for a move back to 11166/11210/11260. Bears will get active below 10990 for a move back to 10920/10850/10790.

  • Total Future & Option trading volume at 12.85 Lakh core with total contract traded at 2.17 lakh , PCR @0.83
  • Nifty Oct Future Open Interest Volume is at 0.78 Cores with liquidation of 2.2 Lakh with decrease in cost of carry suggesting short position were closed today, NF Rollover cost @11170 below it.
  • 11100 CE is having Highest OI at 9 Lakh, resistance at 11100 followed by 11200.10900-11400 CE added 18 Lakh in OI so bears added in range of 11100-11200.FII bought 4 K CE and 13.8 K CE were shorted  by them. Retailers bought 50 K CE and 115 K CE were shorted by them. 
  • 10800 PE OI@12 Lakhs having the highest OI strong support at 10800 followed by 10700. 10800-11000 PE added 12  Lakh in OI so bulls addded position in range 10800-11000.FII bought 18.8 K PE and 39.5 K PE were shorted  by them. Retailers bought 256 K PE and 197 K PE were shorted by them. 
  • FII’s sold 2080 cores and DII’s bought 2070 cores in cash segment.INR closed at 73.70

Buy Above 11075 Tgt 11100,11130 and 11166 (Nifty Spot Levels)

Sell Below 11020 Tgt 10995,10963 and 10920(Nifty Spot Levels)

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