Nifty Analysis as Mercury goes Ingress

  • FII sold 4.8 K contract of Index Future worth 482 cores, Net OI has increased by 811 contract,2 K Long contract were covered by FII and 2.8 K Shorts were added by FII. Net FII Long Short ratio at 4 So FII used rise to exit longs and enter shorts.
  • As Discussed in Last Analysis 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. Bulls were able to do 2 target on upside, Now Bulls need to move above 13170 for upmove to continue towards 13232/13290. Bears below 13043 can see quick fall towards 12970/12901/12839. Marecury Ingreess today so break of High and low of today can see move of 150-200 points in next 2 trading sessions.

  • Total Future & Option trading volume at 17.4 Lakh core with total contract traded 1.17 lakh , PCR @0.95
  • Nifty Dec Future Open Interest Volume is at 1.17 Cores with liqudiation of 0.91 Lakh with increase in cost of carry suggesting long position were closed today, NF Rollover cost @12984 closed above it.
  • 13200 CE is having Highest OI at 14 Lakh, resistance at 13200 followed by 13100.12900-13000 CE added 25 Lakh in OI so bears added in range of 13000-13100.FII bought 16.4 K CE and 7.9 K CE were shorted by them. Retailers bought 96 K CE and 108 K  CE were shorted by them.
  • 12800 PE OI@22 Lakhs having the highest OI strong support at 12800 followed by 12700. 12700-12800 PE added 29  Lakh in OI so bulls addded position in range 12700-12800.FII bought 9.7 K PE and 15 K PE were shorted by them. Retailers bought 268 K PE and 230 K PE were shorted by them.
  • FII’s bought 3242 cores and DII’s sold 1043 cores in cash segment.INR closed at 73.80

Buy Above 13130 Tgt 13169,13200 and 13232 (Nifty Spot Levels)

Sell Below 13085 Tgt 13066,13045 and 13010 (Nifty Spot Levels)

2 thoughts on “Nifty Analysis as Mercury goes Ingress”

  1. Bramesh sir.. Break of 01st December 2020 HIgh / low
    today’s ( 02nd December 2020 ) High / Low will give 150-200 ..
    As per past analysis ( mercury ingress is on 01st December 2020 ).

    Please clarify Sir..

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