Nifty EOD Analysis for 29 Dec

  • FII bought 4.5 K contract of Index Future worth 432 cores, Net OI has increased by 14.3 K contract,9.4 K Long contract were added by FII and 4.8 K  Shorts were added by FII. Net FII Long Short ratio at 2.1 So FII used rise to enter longs and exit shorts.
  • As Discussed in Last Analysis Moon at Ascending Node again suggesting another volatile move coming. Now Bulls need to move above 13780 for rally towards 13824/13869/13921. Bears will get active below 13715 for a move back to 13660/13571. Another gap up open now bulls need to protect 13824 levels for rally to continue towards 13930/13975/14024. Bears have there chances only below 13810 for a move back to 13754/13666.Any break below today low can see fall till 13651.

  • Total Future & Option trading volume at 61.1  Lakh core with total contract traded 1.30 lakh , PCR @0.93
  • Nifty Dec Future Open Interest Volume is at 0.93 Cores with liqudiation of 9.5  Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @12984 closed above it.
  • 13900 CE is having Highest OI at 19.5 Lakh, resistance at 13900 followed by 14000.13700-14000 CE added 22.2 Lakh in OI so bears added in range of 13900-14000.FII bought 35.5  K CE and 27.1 K CE were shorted by them. Retailers bought 203 K CE and 180 K CE were shorted by them.
  • 13600 PE OI@22.5 Lakhs having the highest OI strong support at 13600 followed by 13500. 13300-13600 PE added 25  Lakh in OI so bulls addded position in range 13500-13600.FII bought 36.5 K PE and 15.8 K PE were shorted by them. Retailers bought 288 K PE and 281 K PE were shorted by them.
  • FII’s bought 1588 cores and DII’s sold 1386 cores in cash segment.INR closed at 73.58

Buy Above 13885 Tgt 13900,13924 and 13980 (Nifty Spot Levels)

Sell Below 13845 Tgt 13823,13790 and 13754 (Nifty Spot Levels)

2 thoughts on “Nifty EOD Analysis for 29 Dec”

  1. Thanks for the post and I follow you for ast few months. I have a question.

    Wave 1 ended in 6350. Wave 2 at 2252. Wave 3 at 12430. Wave 4 at 7511. Wave 3 was close to 1.62 time of Wave 1.

    Likely price targets for Wave 5 are: 61.8% of Wave 1, 100% of Wave 1, 161.8% of Wave 1, 161.8% of the length from the beginning of Wave 1 to end of Wave 3

    First target is crossed and last 2 are out of question, as wave 5 cannot be more than wave 3. If the wave 5 is 100% wave 1, we are there today.

    Do you think still upside is there or my premise is wrong.

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