Nifty Analysis for 18 Dec

  • FII sold 4.5 K contract of Index Future worth 374 cores, Net OI has increased by 19.8 K contract, 7.6 K Long contract were added by FII and 12.1 K Shorts were added by FII. Net FII Long Short ratio at 2.2  So FII used rise to enter longs and enter shorts.
  • As Discussed in Last Analysis  We have Venus Ingress tommrow so first 15 mins High and low break willd decide the trend for the day. Bulls need to break 13715 for a move back to 13782/13800/13880. Bears below 13575 can push index back to 13517/13459/13401.Nifty was able to sustain above first 15 mins high and almost did the first target, Bulls need to break 13778 for a move back to 13824/13880. Bears below 13720 can push index back to 13673/13629/13585.

  • Total Future & Option trading volume at 48.8 Lakh core with total contract traded 0.92 lakh , PCR @0.96
  • Nifty Dec Future Open Interest Volume is at 1.28 Cores with addition of 3.2 Lakh with decrease in cost of carry suggesting short position were added today, NF Rollover cost @12984 closed above it.
  • 13800 CE is having Highest OI at 14.5 Lakh, resistance at 13800 followed by 13900.13700-13900 CE added 2.2 Lakh in OI so bears added in range of 13600-13700.
  • 13500 PE OI@15.5 Lakhs having the highest OI strong support at 13500 followed by 13400. 13300-13500 PE added 12  Lakh in OI so bulls addded position in range 13400-13500.
  • FII’s bought 2355 cores and DII’s sold 2494 cores in cash segment.INR closed at 73.65

Buy Above 13778 Tgt 13800,13824 and 13850 (Nifty Spot Levels)

Sell Below 13720 Tgt 13685,13650 and 13610(Nifty Spot Levels)

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