Nifty Analysis for 06 Nov

  • FII bought 40.8  K contract of Index Future worth 3440 cores, Net OI has increased by 10 K contract,25.4 K Long contract were added by FII and 15.4  K Shorts were covered by FII. Net FII Long Short ratio at 1.83 So FII used rise to enter longs and exit shorts.
  • As Discussed in Last Analysis Now as US Election volatlity will continue bulls need to move above 11960 for upmove towards 12025/12100 as we are back to gann angle resistance. Bears need a close below 11860 for move towards 11800/11729/11666.Tommrow is very important Gann Date. Nifty gave a breakout as per below Gann Chart till bulls are holding 12080-12060 range rally can continue till 12196/12240/12300. Bears below 12020 can see fall towards 11960/11910/11850. Break of today High and low should give 100-150 points move in Nifty.

  • Total Future & Option trading volume at 45.3  Lakh core with total contract traded 1.64 lakh , PCR @0.98
  • Nifty Nov Future Open Interest Volume is at 1.13 Cores with additon of 7.9  Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @11786 closed above it.
  • 12200 CE is having Highest OI at 14 Lakh, resistance at 12200 followed by 12300.11800-12000 CE added 22 Lakh in OI so bears added in range of 11800-11900.
  • 11900 PE OI@12 Lakhs having the highest OI strong support at 11900 followed by 11800. 11700-11800 PE added 19  Lakh in OI so bulls addded position in range 11800-11900.
  • FII’s bought 5368 cores and DII’s sold 2208 cores in cash segment.INR closed at 74.23

Buy Above 12160 Tgt 12190,12225 and 12261 (Nifty Spot Levels)

Sell Below 12100 Tgt 12079,12054 and 12025  (Nifty Spot Levels)

Leave a Reply