Nifty Analysis for 07 Oct

  • FII sold 5.3 K contract of Index Future worth 513 cores, Net OI has increased by 2.6 K contract, 5.2 K Long contract were covered by FII and 88 Shorts were added by FII. Net FII Long Short ratio at 1.77 So FII used rise to exit longs and enter  shorts.
  • As Discussed in Last Analysis   Now Bulls need to move above 11515 for the upmove to continue towards 11570/11610/11666. Bears will get active below 11485 for a move back to 11444/11385/11323. Another gap up open, Now we have an important astro date today, Result Season Kicking of from tommrow and we are heading to major gann angle resistance in zone of 11721-11743. Bulls need to move above 11721 for the upmove to continue towards 11790/11841/11900. Bears below 11620 for a move back to 11564/11520/11444.

  • Total Future & Option trading volume at 22.2 Lakh core with total contract traded at 1.39 lakh , PCR @0.88
  • Nifty Oct Future Open Interest Volume is at 1 Cores with addition of 6 Lakh with decrease in cost of carry suggesting short position were closed today, NF Rollover cost @11170 above it.
  • 11800 CE is having Highest OI at 12 Lakh, resistance at 11800 followed by 11700.11500-11800 CE added 8 Lakh in OI so bears added in range of 11600-11700.FII bought 13 K CE and 1 K CE were shorted by them. Retailers sold 44.7 K CE and 5.4 K  CE were shorted by them.
  • 11500 PE OI@12 Lakhs having the highest OI strong support at 11500 followed by 11400. 11200-11400 PE added 22  Lakh in OI so bulls addded position in range 11200-11400.FII bought 9.9 K PE and 11.2 K PE were shorted by them. Retailers bought 198 K PE and 139 K PE were shorted by them.
  • FII’s bought 1101.76 cores and DII’s sold 934 cores in cash segment.INR closed at 73.54

Buy Above 11700 Tgt 11721,11743 and 11777 (Nifty Spot Levels)

Sell Below 11649 Tgt 11622,11595 and 11570 (Nifty Spot Levels)

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