Nifty Chart Analysis for Weekly Expiry

  • FII bought 5.3 K contract of Index Future worth 447 cores, Net OI has increased by 1.2 K  contract,3.3 K Long contract were added by FII and 2  K Shorts were covered by FII. Net FII Long Short ratio at 2.48 So FII used rise to enter longs and exit shorts.
  • As Discussed in Last Analysis  Bull need to move above 12910 for a move back to 12967/13024/13081. Bears will get active below 12820 for a move back to 12764/12707/12651. For people looking to short this market Look at the cash volume data Equity buying/selling is delayed cycle to the FnO cycle. First FII take long positions in FnO – Then they will start buying equities to induce a rally – and then they will start liquidating the FnO longs. 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.

  • Total Future & Option trading volume at 26.3 Lakh core with total contract traded 1.20  lakh , PCR @0.97
  • 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.FII bought 29  K CE and 23 K CE were shorted by them. Retailers sold 9.6 K CE and 105 shorted CE were covered by them.
  • 12800 PE OI@23 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 27.4 K PE and 14.9 K PE were shorted by them. Retailers bought 88 K PE and 77 K PE were shorted by them.
  • FII’s bought 3071 cores and DII’s sold 2789 cores in cash segment.INR closed at 74.33

Buy Above 12950 Tgt 12970,12990 and 13047 (Nifty Spot Levels)

Sell Below 12898 Tgt 12866,12843 and 12820 (Nifty Spot Levels)

Upper End of Expiry : 13067

Lower End of Expiry : 12808

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