Nifty Analysis as Mars at Opposition

  • FII sold 9.5 K caontract of Index Future worth 700 cores, Net OI has decreased by 2.2 K contract, 5.8 K Long contract were covered by FII and 3.6 K Shorts were by added FII. Net FII Long Short ratio at 2.1 So FII used rise to exit longs and enter shorts.
  • As Discussed in Last Analysis Now we are entering a crucial price and time zone so time to be cautious. Bulls now need to move  11970 for a move back to 12023/12058/12125. Bears once below 11855 can see 11805/11750/11696. High made was 12022 so bulls did 1 target on upside and Price has reacted from the Gann Resistance angle, Tommrow is Mars at Opposition, Mars generally create Havoc in Financial Market so time to be cautious. Bulls need to move above 11977 for a move back to 12031/12085/12141. Bears will get active below 11855 for a move back to 11804/11749/11695.

  • Total Future & Option trading volume at 15.3 Lakh core with total contract traded at 1.39 lakh , PCR @0.91
  • Nifty Oct Future Open Interest Volume is at 1.13 Cores with liquidation of 0.92 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @11170 above it.
  • 12100 CE is having Highest OI at 29 Lakh, resistance at 12000 followed by 12100.11900-12200 CE added 18 Lakh in OI so bears added in range of 11900-12000.FII bought 15.5  K CE and 33.7 K shorted CE were covered by them. Retailers bought 253 K CE and 169 K  CE were shorted by them.
  • 11700 PE OI@18 Lakhs having the highest OI strong support at 11700 followed by 11600. 11500-11900 PE added 12  Lakh in OI so bulls addded position in range 11700-11600.FII bought 17.7 K PE and 16.5 K PE were shorted by them. Retailers bought 21.4 K PE and 52.3 K PE were shorted by them.
  • FII’s bought 615 cores and DII’s sold 1028 cores in cash segment.INR closed at 73.50

Buy Above 11946 Tgt 11970,11999 and 12025 (Nifty Spot Levels)

Sell Below 11900 Tgt 11881,11855 and 11830 (Nifty Spot Levels)

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