Nifty Analysis for 06 Oct

  • FII sold 1 K contract of Index Future worth 44 cores, Net OI has increased by 2.6 K contract, 826 Long contract were added by FII and 1.8 K Shorts were covered by FII. Net FII Long Short ratio at 1.9 So FII used rise to enter longs and exit shorts.
  • As Discussed in Last Analysis   Now Bulls need to move above 11430 for the upmove to continue towards 11485/11555/11610. Bears will get active below 11366 for a move back to 11316/11270/11220. Another gap up open and we made a small double top at 11578. Range of 11576-11600 is important supply zone. 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.

  • Total Future & Option trading volume at 15.6 Lakh core with total contract traded at 1.38 lakh , PCR @0.88
  • Nifty Oct Future Open Interest Volume is at 0.94 Cores with addition of 1.1 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @11170 above it.
  • 11500 CE is having Highest OI at 12 Lakh, resistance at 11500 followed by 11600.10900-11400 CE added 8 Lakh in OI so bears added in range of 11100-11200.FII bought 40.5 K CE and 42.8 K CE were shorted by them. Retailers bought 289 K CE and 234 K  CE were shorted by them.
  • 11200 PE OI@12 Lakhs having the highest OI strong support at 11200 followed by 11100. 10800-11000 PE added 22  Lakh in OI so bulls addded position in range 11000-11200.FII bought 30.9 K PE and 16.9 K PE were shorted by them. Retailers bought 167 K PE and 166 K PE were shorted by them.
  • FII’s bought 236 cores and DII’s sold 471 cores in cash segment.INR closed at 73.39

Buy Above 11515 Tgt 11540,11570 and 11600 (Nifty Spot Levels)

Sell Below 11485 Tgt 11460,11430 and 11400 (Nifty Spot Levels)

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