Nifty Weekly Expiry Analysis

  • FII bought 8.7 K contract of Index Future worth 781 cores, Net OI has increased by 16.2 K contract, 12.4 K Long contract were covered by FII and 3.7 K Shorts were added by FII. Net FII Long Short ratio at 1.91 So FII used rise to enter longs and enter  shorts.
  • As Discussed in Last Analysis   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. Low made was 11629 so bears unable to break 11620 and Bulls closed exactly at gann angle resistance, suggesting we are heading for exciting time. We saw ther perfect move from 1 gann angle to another. 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.

  • Total Future & Option trading volume at 23.4 Lakh core with total contract traded at 1.50 lakh , PCR @0.88
  • Nifty Oct Future Open Interest Volume is at 1.03 Cores with addition of 3.6 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @11170 above it.
  • 11800 CE is having Highest OI at 22 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 16.3 K CE and 23.1 K CE were shorted by them. Retailers bought 112 K CE and 71 K  CE were shorted by them.
  • 11600 PE OI@12 Lakhs having the highest OI strong support at 11600 followed by 11500. 11500-11700 PE added 22  Lakh in OI so bulls addded position in range 11500-11700.FII bought 20.7 K PE and 20.4 K PE were shorted by them. Retailers bought 149 K PE and 123 K PE were shorted by them.
  • FII’s bought 1093 cores and DII’s sold 1129 cores in cash segment.INR closed at 73.41

Buy Above 11750 Tgt 11765,11800 and 11843 (Nifty Spot Levels)

Sell Below 11723 Tgt 11700,11666 and 11630 (Nifty Spot Levels)

Upper End of Expiry : 11862

Lower End of Expiry : 11615

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