Coronavirus Vaccine Update:Nifty Analysis

  • FII bought 10.6 K contract of Index Future worth 904 cores, Net OI has increased by 10 K contract,10.3 K Long contract were added by FII and 306 Shorts were covered by FII. Net FII Long Short ratio at 1.03 So FII used rise to enter longs and exit shorts.
  • As Discussed in Last Analysis All Bullish target done and Gann date showed its effect with move of 150 points. Now Bulls need to move 12324 for move back to 12376/12428/12532. Bears will get active below 12220 for a move back to 12168/12116/12064. Nifty has hit ATH today and now we are expecting another gap up open tommrow based on COVID-19 vaccine annoucement  As per gann analysis Range of 12700-12770 will act as a resistance zone,so longs should use this range to book profits as and when it come. Bears will get active below 12430 for a move back to 12362/12307/12251. 

  • Total Future & Option trading volume at 16.8 Lakh core with total contract traded 1.38 lakh , PCR @0.91
  • Nifty Nov Future Open Interest Volume is at 1.14 Cores with addition of 2.6 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @11786 closed above it.
  • 12700 CE is having Highest OI at 18 Lakh, resistance at 12700 followed by 12800.12500-12700 CE added 12 Lakh in OI so bears added in range of 12300-12400.FII bought 35.1 K CE and 337 CE were shorted by them. Retailers bought 98.9 K CE and 133 K  CE were shorted by them.
  • 12300 PE OI@12 Lakhs having the highest OI strong support at 12300 followed by 12200. 12300-12400 PE added 39  Lakh in OI so bulls addded position in range 12200-12300.FII bought 59.6 K PE and 55 K PE were shorted by them. Retailers bought 256 K PE and 232 K PE were shorted by them.
  • FII’s bought 4548 cores and DII’s sold 3036 cores in cash segment.INR closed at 74.25

Buy Above 12642 Tgt 12680,12725 and 12770 (Nifty Spot Levels)

Sell Below 12585 Tgt 12555,12529 and 12480 (Nifty Spot Levels)

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