Nifty ready for a big move

  • FII sold 20.8 K contract of Index Future worth 1654 cores, Net OI has decreased by 5.8 K contract,13.3 K Long contract were covered by FII and 7.4 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 High made was 12769 as discussed in video, Bulls now need to move 12797 for a move back to 12852/12909. Bears once below 12683 for a move back to 12627/12571/12529. We should see exciting expiry tommrow based on time cycle. 12627 done below 12683.We have formed an Inside bad and DOJI today suggestion another big move will be seen in next 2 trading sessions. Bulls now need to move above 12729 for a move back to 12770/12823/12870. Bears below 12666 can move back to 12610/12570/12520.

  • Total Future & Option trading volume at 52.3 Lakh core with total contract traded 1.38  lakh , PCR @0.78
  • Nifty Nov Future Open Interest Volume is at 1.17 Cores with liquidation of 4 Lakh with decrease in cost of carry suggesting short position were closed today, NF Rollover cost @11786 closed above it.
  • 12800 CE is having Highest OI at 14 Lakh, resistance at 12800 followed by 12900.12700-12900 CE added 12 Lakh in OI so bears added in range of 12800-12900.
  • 12600 PE OI@13 Lakhs having the highest OI strong support at 12600 followed by 12500. 12500-12600 PE added 9  Lakh in OI so bulls addded position in range 12500-12600.
  • FII’s bought 1514.12 cores and DII’s sold 2239.43 cores in cash segment.INR closed at 74.70

Buy Above 12720 Tgt 12741,12770and 12800 (Nifty Spot Levels)

Sell Below 12666 Tgt 12630,12600 and 12570 (Nifty Spot Levels)

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