Nifty Ready for Big Move

  • FII sold 7.7 K caontract of Index Future worth 601 cores, Net OI has decreased by 465 contract, 4.1 K Long contract were covered by FII and 3.6 K Shorts were added  by FII. Net FII Long Short ratio at 1.59 So FII used fall to exit longs and enter shorts.
  • As Discussed in Last Analysis Nifty has formed Inside Bar,unable to cross gann angle resistance, today was Sun Ingress suggesting good move should be seen in next 2 trading sessions. Bulls need to move above 11950 for a move back to 12001/12065/12121. Bears will get active below 11820 for a move back to 11770/11717/11666. Bulls were not able to sustaian and close above 11950 Sun Ingress High, Based on Time cycle we should see good move on Monday. Bulls now need to move above 11975 for a move back to 12025/12078/12121. Bears will get active below 11900 for a move back to 11843/11775/11701.

  • Total Future & Option trading volume at 11.6 Lakh core with total contract traded 1.02lakh , PCR @0.88
  • Nifty Oct Future Open Interest Volume is at 1.03 Cores with addition of 0.22 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @11170 above it.
  • 12000 CE is having Highest OI at 34 Lakh, resistance at 12000 followed by 12100.11800-12000 CE added 28 Lakh in OI so bears added in range of 11900-12000.FII bought 17.5 K CE and 29.9 K shorted CE were covered by them. Retailers bought 210 K CE and 173 K  CE were shorted by them.
  • 11800 PE OI@40 Lakhs having the highest OI strong support at 11800 followed by 11700. 11500-11900 PE added 32  Lakh in OI so bulls addded position in range 11700-11800.FII bought 23.6 K PE and 10.6 K PE were shorted by them. Retailers bought 139 K PE and 149 K PE were shorted by them.
  • FII’s bought 906 cores and DII’s sold 891 cores in cash segment.INR closed at 73.65

Buy Above 11950 Tgt 11975,12000 and 12025(Nifty Spot Levels)

Sell Below 11900 Tgt 11875,11850 and 11821 (Nifty Spot Levels)

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