Nifty Analysis for 21 Sep

  • FII bought 22.7 K contract of Index Future worth 1900 cores, Net OI has decreased by 13.8 K contract, 4.4 K Long contract were added by FII and 18.2 K Shorts were coverd by FII. Net FII Long Short ratio at 1.23 So FII used fall to enter longs and exit shorts.
  • As Discussed in Last Analysis Bears need to break 11480 for move back to 11420/11375/11312. Bulls will get active above 11555 for a move back to 11610/11666/11721. Nifty opened with a gap up and O=H at 11584 bears once below 11480 failed to do 1 target of 11420, Bears need to break 11490-11470 range for fall to continue 11420/11375/11312. Bulls will get active above above 11585 for a move back to 11666/11721. Next Week will be very intresting as we have Monthly expiry and also Confluence of Important time cycle of 21-22 Sep.

  • Total Future & Option trading volume at 13.2 Lakh core with total contract traded at 1.70 lakh , PCR @0.91
  • Nifty Sep Future Open Interest Volume is at 0.98 Cores with liquidation of 17 Lakh with increase in cost of carry suggesting short position were closed today, NF Rollover cost @11514 closed above it.
  • 11600 CE is having Highest OI at 20 Lakh, resistance at 11500 followed by 11600.11300-11600 CE added 28 Lakh in OI so bears added in range of 11300-11400.FII bought 24.2 K CE and 17.6 K CE were shorted  by them. Retailers bought 168 K CE and 155 K CE were shorted by them. 
  • 11300 PE OI@18 Lakhs having the highest OI strong support at 11300 followed by 11200. 11300-11500 PE added 12  Lakh in OI so bulls addded position in range 11200-11300.FII bought 15 K PE and 8.5 K PE were shorted  by them. Retailers bought 91 K PE and 101 K PE were shorted by them. 
  • FII’s bought 205 cores and DII’s sold 100 cores in cash segment.INR closed at 73.76

Buy Above 11515 Tgt 11545,11576 and 11600 (Nifty Spot Levels)

Sell Below 11470 Tgt 11442,11424 and 11385 (Nifty Spot Levels)

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