Nifty Chart Analysis for 20 Nov

  • FII sold 8.2 K contract of Index Future worth 737 cores, Net OI has increased by 6 K  contract,1 K Long contract were covered by FII and 7.1  K Shorts were added by FII. Net FII Long Short ratio at 2.1 So FII used rise to exit longs and enter shorts.
  • As Discussed in Last Analysis  Today volume in cash market were highest in last few days so time to be cautious. Last time FII were seller in cash market was on 30 Oct and we made bottom on 30 Oct end of Bear cycle saw a Big rally.So range of 12960-12990 is crucial for bulls to cross for upmove to continue till 13047/13104. Bears below 12876 can see fall towards 12820/12763/12707.High made was 12963 so bulls unable to cross the range and bears once below 12876 did 3 target on downside.Now Bears need to break 12730 for downfall to continue towards 12690/12610/12555. Bulls above 12830 can see rally back to 12910/12963/13020.In the markets Buyers make money, Sellers make money–it’s the pigs who get slaughtered ! Definition of a Pig : Greedy short term player, looking for small profits with big risk and no knowledge of the markets. Today was one of that day where many traders got slaughtered . 

  • Total Future & Option trading volume at 65.6 Lakh core with total contract traded 1.20  lakh , PCR @0.93
  • Nifty Nov Future Open Interest Volume is at 1.15 Cores with liquidation of 0.81 Lakh with increase in cost of carry suggesting long position were closed today, NF Rollover cost @11786 closed above it.
  • 13000 CE is having Highest OI at 14 Lakh, resistance at 13000 followed by 13100.12900-13000 CE added 12 Lakh in OI so bears added in range of 13000-13100.
  • 12600 PE OI@23 Lakhs having the highest OI strong support at 12600 followed by 12500. 12700-12800 PE added 29  Lakh in OI so bulls addded position in range 12700-12800.
  • FII’s bought 1180 cores and DII’s sold 2854 cores in cash segment.INR closed at 74.33

Buy Above 12800 Tgt 12826,12854 and 12889 (Nifty Spot Levels)

Sell Below 12743 Tgt 12729,12690 and 12666 (Nifty Spot Levels)

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