Nifty Analysis for 16 Sep

  • FII sold 10.8 K contract of Index Future worth 828  cores, Net OI has increased by 10.8 K contract, 714 Long contract were added by FII and 765 K Shorts were covered  by FII. Net FII Long Short ratio at 1.07 So FII used rise to enter  longs and exit shorts.
  •  As discussed in last analysis 11555 done above 11500. Now Bears need to break 11380  for move towards 11326/11275/11220. Bulls will get active above 11500 for a move back to 11555/11610/11666. Till we are holding 11489-11500 range bulls can rally towards 11576/11651. Bears will get active below 11470 for a move back to 11410/11376/11320.

  • Total Future & Option trading volume at 15.80 Lakh core with total contract traded at 1.28 lakh , PCR @0.91
  • Nifty Sep Future Open Interest Volume is at 1.13 Cores with addition of 1.6 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @11514 closed above it.
  • 11500 CE is having Highest OI at 24 Lakh, resistance at 11500 followed by 11600.11300-11600 CE added 15 Lakh in OI so bears added in range of 11300-11400.FII bought 5.8 K CE and 8.6 K shorted  CE were covered by them. Retailers sold 35.3 K CE and 17.6 K CE were shorted by them. 
  • 11300 PE OI@26 Lakhs having the highest OI strong support at 11300 followed by 11200. 11300-11500 PE added 32  Lakh in OI so bulls addded position in range 11200-11300.FII sold 10. K PE and 1.7 K shorted  PE were covered  by them. Retailers bought 159 K PE and 99.1 K PE were shorted by them. 
  • FII’s bought 1170 cores and DII’s sold 895 cores in cash segment.INR closed at 73.71

Buy Above 11536 Tgt 11555,11576 and 11593 (Nifty Spot Levels)

Sell Below 11509 Tgt 11489,11470 and 11444 (Nifty Spot Levels)

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