Nifty Analysis for 11 Dec

  • FII sold 13.7 K contract of Index Future worth 1310  cores, Net OI has decreased by 9K contract, 11.3 K Long contract were covered by FII and 2.3 K Shorts were added by FII. Net FII Long Short ratio at 2.8 So FII used rise to exit longs and enter shorts.
  • As Discussed in Last Analysis Now Bulls need to move above 13565 for a move back to 13623/13681/13740. Bears below 13498 can fall till 13449/13405/13333.Nifty Gunner chart is shown below suggesting price is at a crucial zone and another blow out move should be seen.Bulls need to break 13505 for a move back to 13555/13610/13666. Bears below 13450 can push index back to 13390/13333/13276.

  • Total Future & Option trading volume at 52.8  Lakh core with total contract traded 1.20 lakh , PCR @1.03
  • Nifty Dec Future Open Interest Volume is at 1.16 Cores with liquidation of 7.7 Lakh with decrease in cost of carry suggesting long position were clsoed today, NF Rollover cost @12984 closed above it.
  • 13600 CE is having Highest OI at 10.5 Lakh, resistance at 13600 followed by 13700.13500-13700 CE added 12.2 Lakh in OI so bears added in range of 13500-13700.
  • 13100 PE OI@9.5 Lakhs having the highest OI strong support at 13100 followed by 13000. 12800-13000 PE added 12  Lakh in OI so bulls addded position in range 13000-13100.
  • FII’s bought 2259 cores and DII’s sold 2275 cores in cash segment.INR closed at 73.78

Buy Above 13505 Tgt 13529,13560 and 13590 (Nifty Spot Levels)

Sell Below 13449 Tgt 13420,13390 and 13360 (Nifty Spot Levels)

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