Nifty Analysis for 16 Dec

  • FII sold 216 contract of Index Future worth 95 cores, Net OI has decreased by 7.3 K contract, 3.7 K Long contract were covered by FII and 3.5 K Shorts were added by FII. Net FII Long Short ratio at 2.8  So FII used rise to exit longs and exit shorts.
  • As Discussed in Last Analysis  We have formed Lowest volume for this series on Astro date suggesting we are in for a big move,Bulls need to break 13560 for a move back to 13610/13666/13729. Bears below 13470 can push index back to 13420/13366/13300. Bears got whipsawed below 13470 and bulls were also unable to close above 13560 so day of whipsaw. Now Till we are below Astro Date High of 13597 bears have upperhand. Bulls need to break 13600 for a move back to 13650/13729/13800. Bears below 13470 can push index back to 13420/13366/13300.

  • Total Future & Option trading volume at 21  Lakh core with total contract traded 1.12 lakh , PCR @0.91
  • Nifty Dec Future Open Interest Volume is at 1.17 Cores with liqudiation of 0.89 Lakh with decrease in cost of carry suggesting short position were closed today, NF Rollover cost @12984 closed above it.
  • 13600 CE is having Highest OI at 14.5 Lakh, resistance at 13600 followed by 13700.13500-13700 CE added 12.2 Lakh in OI so bears added in range of 13500-13700.FII bought 21 K CE and 10.3 K CE were shorted by them. Retailers bought 44 K CE and 46.5 K  CE were shorted by them.
  • 13200 PE OI@21.5 Lakhs having the highest OI strong support at 13300 followed by 13200. 13000-13400 PE added 22  Lakh in OI so bulls addded position in range 13200-13400.FII bought 16.1 K PE and 11.8 K PE were shorted by them. Retailers bought 91 K PE and 72 K PE were shorted by them.
  • FII’s bought 2484 cores and DII’s sold 2666 cores in cash segment.INR closed at 73.67

Buy Above 13575 Tgt 13600,13625 and 13666 (Nifty Spot Levels)

Sell Below 13535 Tgt 13510,13487 and 13450 (Nifty Spot Levels)

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