Nifty Analysis for 23 Dec

  • FII bought 8.1 K contract of Index Future worth 589 cores, Net OI has increased by 6.6 K contract, 73 K Long contract were added by FII and 746 Shorts were covered by FII. Net FII Long Short ratio at 2.2 So FII used fall to enter longs and exit shorts.
  • As Discussed in Last Analysis Now Bulls need to move above 13416 for a move back to 13485/13529/13610. Bears below 13300 can see fall extending towards 13253/13195/13138 . Fall today was more of technical in nature it was not backed by cash selling and derivatives. Bears were able to do 2 target on dowside, Bears need to psuh below 13380 for the downmove to continue towards 13275/13192/13131/13084.. Bulls above 13500 can push towards 13575/13616. 2 days close Below 13191 can lead to quick fall towards 12991/12860/12730 where gann angle support lies as shown in below chart.

  • Total Future & Option trading volume at 34.8 Lakh core with total contract traded 2.28 lakh , PCR @0.93
  • Nifty Dec Future Open Interest Volume is at 1.08 Cores with liqudiation of 3.3 Lakh with increase in cost of carry suggesting long position were closed today, NF Rollover cost @12984 closed above it.
  • 13500 CE is having Highest OI at 14.5 Lakh, resistance at 13500 followed by 13600.13500-13800 CE added 18.2 Lakh in OI so bears added in range of 13500-13700.FII sold 10.3 K CE and 21.1 K shorted CE were covered  by them. Retailers sold 33.6 K CE and 4.1 K  CE were shorted by them.
  • 13200 PE OI@18.5 Lakhs having the highest OI strong support at 13200 followed by 13100. 13200-13500 PE added 22  Lakh in OI so bulls addded position in range 13400-13500.FII bought 5.7 K PE and 1.3 K PE were shorted by them. Retailers bought 183 K PE and 105 K PE were shorted by them.
  • FII’s bought 1153 cores and DII’s sold 661 cores in cash segment.INR closed at 73.93

Buy Above 13500 Tgt 13525,13555 and 13595 (Nifty Spot Levels)

Sell Below 13424 Tgt 13383,13343 and 13285 (Nifty Spot Levels)

Leave a Reply