Nifty Analysis as Mars Creates Havoc

  • FII sold 1.9 K caontract of Index Future worth 107  cores, Net OI has increased by 1.4 K contract, 218  Long contract were covered by FII and 1.7 K Shorts were by added FII. Net FII Long Short ratio at 1.85 So FII used fall to exit longs and enter shorts.
  • As Discussed in Last Analysis Price is back to gann angle resistance.Bulls need to move above 11990 for a move back to 12038/12085/12141. Bears will get active below 11925 for a move back to 11870/11822/11755/11695.  Mars finally created an Havoc in Nifty as Bank Nifty corrected by almost 300 points in single trading session as discussed in below  video. 11660 is important level to watch if the fall has to continue. Bulls need a close above 11790 for a move back to 11843/11920/12000. Bears unable to cross 11729-11740 range  in gap up can correct back to 11660/11600/11555

  • Total Future & Option trading volume at 52.2 Lakh core with total contract traded at 2.25 lakh , PCR @0.82
  • Nifty Oct Future Open Interest Volume is at 1.13 Cores with addition of 0.74Lakh with decrease in cost of carry suggesting short  position were added today, NF Rollover cost @11170 above it.
  • 11900 CE is having Highest OI at 10 Lakh, resistance at 11900 followed by 12000.11800-12000 CE added 18 Lakh in OI so bears added in range of 11900-12000.
  • 11600 PE OI@8 Lakhs having the highest OI strong support at 11600 followed by 11500. 11500-11900 PE added 12  Lakh in OI so bulls addded position in range 11500-11600.
  • FII’s sold 604 cores and DII’s sold 808 cores in cash segment.INR closed at 73.51

Buy Above 11790 Tgt 11821,11843 and 11890 (Nifty Spot Levels)

Sell Below 11729 Tgt 11710,11680 and 11660 (Nifty Spot Levels)

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