Nifty Analysis for RBI Policy

  • FII bought 16 K contract of Index Future worth 1398 cores, Net OI has increased by 27.5 K contract, 21.8 K Long contract were added by FII and 5.7 K Shorts were added by FII. Net FII Long Short ratio at 2.1 So FII used rise to enter longs and enter  shorts.
  • As Discussed in Last Analysis    11794 was the last swing top and moving above 11804 range can lead to fast short covering towards 11856/11908/11960. Bears below 11700 can lead to fall towards 11648/11596. 11905 done and we have formed a Perfect DOJI before a major Event,Also completed a major price level based on vedic concept as discussed here  RBI Policy will be uneviled tommrow at 10 AM, Bulls need to move above 11850 for a move back to 11910/11960. Bears will get active below 11780 for a move back to 11729/11666/11610.

  • Total Future & Option trading volume at 46.6 Lakh core with total contract traded at 1.56 lakh , PCR @0.88
  • Nifty Oct Future Open Interest Volume is at 1.10 Cores with addition of 6.7 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @11170 above it.
  • 11900 CE is having Highest OI at 22 Lakh, resistance at 11900 followed by 12000.11500-11800 CE added 18 Lakh in OI so bears added in range of 11600-11700.
  • 11600 PE OI@8 Lakhs having the highest OI strong support at 11600 followed by 11500. 11500-11700 PE added 12  Lakh in OI so bulls addded position in range 11500-11700.
  • FII’s bought 978 cores and DII’s bought 19 cores in cash segment.INR closed at 7330

Buy Above 11850 Tgt 11865,11900 and 11925 (Nifty Spot Levels)

Sell Below 11780 Tgt 11755,11729 and 11700 (Nifty Spot Levels)

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