Nifty Analysis before US Election Results

  • FII sold 22.7 K caontract of Index Future worth 1905 cores, Net OI has increased by 20.7 K contract, 1.7 K Long contract were added by FII and 14.9 K Shorts were added by FII. Net FII Long Short ratio at 0.67 So FII used fall to exit longs and enter shorts.
  • As Discussed in Last Analysis Bulls need to move above 11712 for a move back to 11766/11820/11874. Bears below 11635 for a move back to 11582/11528/11474. Nifty again was able to hold gann angle by whisker, and during market hours we were able to catch the bottom as discussed on Twitter  next week will be volatile move due to US Elections and we should see a swing of 5-8% in next week, Bulls now need to move above 11696 for a move towards 11750/11805/11859. Bears below 11586 can see fall back to 11532/11478/11404.

  • Total Future & Option trading volume at 12.6 Lakh core with total contract traded 2.12 lakh , PCR @0.99
  • Nifty Nov Future Open Interest Volume is at 1.09 Cores with addition of 9.8 Lakh with decrease in cost of carry suggesting short position were added today, NF Rollover cost @11786 closed below it.
  • 11800 CE is having Highest OI at 14.3 Lakh, resistance at 11800 followed by 11900.11800-12000 CE added 36 Lakh in OI so bears added in range of 11800-11900.FII bought 46.8 K CE and 52.1 K CE were shorted by them. Retailers bought 185 K CE and 171 K  CE were shorted by them.
  • 11500 PE OI@20 Lakhs having the highest OI strong support at 11500 followed by 11600. 11500-11600 PE added 29  Lakh in OI so bulls addded position in range 11500-11600.FII bought 40 K PE and 32 K PE were shorted by them. Retailers bought 130 K PE and 135 K PE were shorted by them.
  • FII’s sold 870 cores and DII’s bought 631 cores in cash segment.INR closed at 74.58

Buy Above 11650 Tgt 11670,11700 and 11729(Nifty Spot Levels)

Sell Below 11616 Tgt 11586,11555 and 11521(Nifty Spot Levels)

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