Nifty Analysis for 29 Sep

  • FII bought 9 K contract of Index Future worth 709 cores, Net OI has increased by 9.4 K contract, 9.2 K Long contract were added by FII and 200 Shorts were added by FII. Net FII Long Short ratio at 1.39 So FII used fall to enter longs and exit shorts.
  • As Discussed in Last Analysis  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. Low made was 11099 so bulls were able to enter above 11111 and did 2 target on upside. Now Bulls need to hold range of 11188-111210  range for the rally to continue till 11300/11343/11400. Bears will get active below 11166 for a move back to 11100/11049/11000.

  • Total Future & Option trading volume at 13.80 Lakh core with total contract traded at 1.58 lakh , PCR @0.83
  • Nifty Oct Future Open Interest Volume is at 0.85 Cores with addition of 7.2 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @11170 above it.
  • 11200 CE is having Highest OI at 9 Lakh, resistance at 11200 followed by 11300.10900-11400 CE added 28 Lakh in OI so bears added in range of 11100-11200.FII bought 14.6 K CE and 7.7 K CE were shorted  by them. Retailers bought 34 K CE and  26 K CE were shorted by them. 
  • 11000 PE OI@12 Lakhs having the highest OI strong support at 11000 followed by 10900. 10800-11000 PE added 22  Lakh in OI so bulls addded position in range 10800-11000.FII bought 5 K PE and 3.7 K PE were shorted  by them. Retailers bought 181 K PE and 147 K PE were shorted by them. 
  • FII’s sold 26 cores and DII’s bought 542 cores in cash segment.INR closed at 73.56

Buy Above 11240 Tgt 11278,111300 and 11328 (Nifty Spot Levels)

Sell Below 11208 Tgt 11188,11169 and 11138 (Nifty Spot Levels)

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