September Equinox :Nifty Analysis

  • FII sold 7.6 K contract of Index Future worth 695 cores, Net OI has increased by 10.2 K contract, 1.3 K Long contract were added by FII and 8.9  K Shorts were added by FII. Net FII Long Short ratio at 1.12 So FII used fall to enter longs and enter shorts.
  • As Discussed in Last Analysis 11178 should be watched very closely for this week. Bears need to break 11178-11185 for a move towards 11100/11060/10950. Bulls will have there chance above 11300 for a move back to 11376/11451.High made was 11302 in Open so Bulls unable to move above 11300 and bears once below 11178 did 11100 on downside and now waiting for 11060/10965. Till we are below 11300 we can fall all towards gann angle support which lies at 10771-10800. Today was Sun Ingress so today high and low break will decide next 150-200 points move in Nifty. Bulls will have there chance above 11300 for a move back to 11376/11451.

  • Total Future & Option trading volume at 21.8 Lakh core with total contract traded at 2.2  lakh , PCR @0.99
  • Nifty Oct Future Open Interest Volume is at 0.39 Cores with addition of 13.2 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @11514 below it.
  • 11300 CE is having Highest OI at 22 Lakh, resistance at 11200 followed by 11300.11200-11600 CE added 18 Lakh in OI so bears added in range of 11300-11400.FII bought 12.7 K CE and 17.1 K CE were shorted  by them. Retailers bought 83 K CE and 3 K CE were shorted by them. 
  • 11000 PE OI@18 Lakhs having the highest OI strong support at 11100 followed by 11000. 11300-11500 PE added 12  Lakh in OI so bulls addded position in range 11200-11300.FII bought 21.9 K PE and 8.1 K PE were shorted  by them. Retailers bought 50 K PE and 42.4 K PE were shorted by them. 
  • FII’s sold 2072 cores and DII’s bought 878 cores in cash segment.INR closed at 73.50

Buy Above 11166 Tgt 11190,11225 and 11260 (Nifty Spot Levels)

Sell Below 11111 Tgt 11085,11055and 11025 (Nifty Spot Levels)

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