Nifty Analysis as Neptune goes Retrograde

  • FII bought 19.5 K contract of Index Future worth 1770 cores, Net OI has increased by 7.7 K  contract,13.6 K Long contract were added by FII and 5.9 K Shorts were covered by FII. Net FII Long Short ratio at 4.7 So FII used rise to enter longs and exit shorts.
  • As Discussed in Last Analysis We have trading holiday on Monday and as most of world market are closed due to THANKS Giving we will see Light trading volumes and less volatlity. Bulls need to move above 13018 for a move back to 13074/13131/13188. Bears below 12903 can fall back to 12846/12790/12730. Bulls got whipsawed above 13018, As Neptune goes Retrograde on 28 Nov and we also have Mercury Ingress of 01 Dec suggesting we are ready for another big move in Nifty. Bulls need to move above 13018 for a move back to 13074/13131/13188. Bears below 12903 can fall back to 12846/12790/12730.

  • Total Future & Option trading volume at 72 Lakh core with total contract traded 1.62 lakh , PCR @0.83
  • Nifty Dec Future Open Interest Volume is at 1.13 Cores with addition of 27.2 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @12984 closed above it.
  • 13100 CE is having Highest OI at 12 Lakh, resistance at 13100 followed by 13200.12900-13000 CE added 15 Lakh in OI so bears added in range of 13000-13100.FII bought 23.8 K CE and 29.5 K CE were shorted by them. Retailers bought 218 K CE and 198 K  CE were shorted by them.
  • 12800 PE OI@12 Lakhs having the highest OI strong support at 12800 followed by 12700. 12700-12800 PE added 19  Lakh in OI so bulls addded position in range 12700-12800.FII bought 34.1 K PE and20.8 PE were shorted by them. Retailers bought 160 K PE and 185 K PE were shorted by them.
  • FII’s bought 7712 cores and DII’s sold 4968 cores in cash segment.INR closed at 74.22

Buy Above 13000 Tgt 13020,13045 and 13073 (Nifty Spot Levels)

Sell Below 12933 Tgt 12910,12875 and 12851 (Nifty Spot Levels)

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