Nifty Oct Monthly Closing Analysis

  • As Discussed in Last Analysis Now Bears need to break 11666 for a move back to 11610/11555/11485. Bulls will get active above 11755 for a move back to 11800/11843 /11910. Nifty held on to the gann angle as shown below suggesting we can see upmove, 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. Tommrow is monthly closing so Bulls would like to close above 11700 atleast. 

  • Total Future & Option trading volume at 52.4 Lakh core with total contract traded 1.64 lakh , PCR @0.91
  • Nifty Nov Future Open Interest Volume is at 0.99 Cores with addition of 32.7 Lakh with decrease in cost of carry suggesting long position were added today, NF Rollover cost @11786 closed below it.
  • 11800 CE is having Highest OI at 15 Lakh, resistance at 11800 followed by 11900.11800-12000 CE added 15 Lakh in OI so bears added in range of 11800-11900.
  • 11600 PE OI@16 Lakhs having the highest OI strong support at 11600 followed by 11500. 11500-11600 PE added 19  Lakh in OI so bulls addded position in range 11600-11700.
  • FII’s sold 420 cores and DII’s sold 253 cores in cash segment.INR closed at 74.58

Buy Above 11700 Tgt 11729,11760 and 11800(Nifty Spot Levels)

Sell Below 11643 Tgt 11610,11585 and 11555 (Nifty Spot Levels)

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