Nifty Ready for big move

  • FII sold 2.9 K contract of Index Future worth 286 cores, Net OI has increased by 740 contract,1.1 K Long contract were covered by FII and 1.8 K  Shorts were added by FII. Net FII Long Short ratio at 2 So FII used rise to exit longs and enter shorts.
  • As Discussed in Last Analysis 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.High made was 13967 so bulls almost did the target of 13975.Now Bulls need to protect 13924-13900 range for rally to continue till 14024/14087. Bears below 13870 can quickly fall towards 13810/13764. As per time cycle we should see a big move in next 2 trading sessions.

  • Total Future & Option trading volume at 23.9  Lakh core with total contract traded 1.10 lakh , PCR @0.97
  • Nifty Dec Future Open Interest Volume is at 0.82 Cores with liqudiation of 11.1  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 20.5 Lakh, resistance at 13900 followed by 14000.13700-14000 CE added 12.2 Lakh in OI so bears added in range of 13900-14000.FII bought 33.6  K CE and 33.9 K CE were shorted by them. Retailers bought 101 K CE and 76 K CE were shorted by them.
  • 13700 PE OI@23.5 Lakhs having the highest OI strong support at 13700 followed by 13600. 13400-13800 PE added 15  Lakh in OI so bulls addded position in range 13500-13600.FII bought 24.2 K PE and 23.6 K PE were shorted by them. Retailers bought 91.2 K PE and 91.1 K PE were shorted by them.
  • FII’s bought 2349 cores and DII’s sold 2010 cores in cash segment.INR closed at 73.62

Buy Above 13950 Tgt 13975,14000 and 14027 (Nifty Spot Levels)

Sell Below 13910 Tgt 13890,13866 and 13820 (Nifty Spot Levels)

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