Nifty Analysis as Mercury goes Ingress

  • FII bought 21.4 K contract of Index Future worth 2016 cores, Net OI has increased by 15.2  K contract,18.3 K Long contract were added by FII and 3.1 K Shorts were covered by FII. Net FII Long Short ratio at 3 So FII used rise to enter longs and exit shorts.
  • As Discussed in Last Analysis 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. Nifty continued its strong momentum on upside, Today is important astro date and break of High and low of today can see move of 150-200 points. Bulls need to move above 12650 for a move back to 12700/12769/12826. Bears will get active below 12555 for a move back to 12475/12400/12354.

  • Total Future & Option trading volume at 21.7 Lakh core with total contract traded 2 lakh , PCR @0.79
  • Nifty Nov Future Open Interest Volume is at 1.17 Cores with addition of 2.7 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 20 Lakh, resistance at 12700 followed by 12800.12500-12700 CE added 22 Lakh in OI so bears added in range of 12300-12400.FII bought 18.1 K CE and 20.2 K CE were shorted by them. Retailers bought 70.7 K CE and 46.8 K  CE were shorted by them.
  • 12300 PE OI@22 Lakhs having the highest OI strong support at 12300 followed by 12200. 12300-12400 PE added 29  Lakh in OI so bulls addded position in range 12200-12300.FII bought 27.4 K PE and 24 K PE were shorted by them. Retailers bought 111 K PE and 87 K PE were shorted by them.
  • FII’s bought 5627 cores and DII’s sold 2309 cores in cash segment.INR closed at 74.31

Buy Above 12650 Tgt 12675,12700and 12755  (Nifty Spot Levels)

Sell Below 12607 Tgt 12560,12535 and 12500 (Nifty Spot Levels)

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