Nifty Analysis for 13 Jan

  • FII sold 11.5 K contract of Index Future worth 1206 cores, Net OI has decreased by 9.1 K contract 10.3 K Long contract were covered by FII and 1.1 K Shorts were added by FII. Net FII Long Short ratio at 3.1 so FII used rise to exit longs and enter shorts.
  • As discussed in Last Analysis   As Mercury Jupter Conjuction happend today suggesting today high and low is important for next move in Nifty,Bulls need to move above 14525 for a move back to 14567/14636. Bears will get active below 14366 for a move back to 14297/14225/14160. Another day and the rally continues, and our long target keep getting achived. Today we saw good rise in both nifty and bank nifty but OI has not changed much suggesting it was a rally of short covering,Lot of traders holding shorts have seen captiulation. 14560 is important gann cycle level, Close below it we can see fall towards 14081 by 31 Jan and close above 14610 rally till 15046 by 31 Jan so we are in middle of the zone. Bulls now need to move above 14610 for a move back to 14673/14733. Bears below 14492 towards 14432/14372.

  • Total Future & Option trading volume at 25.5  Lakh core with total contract traded 1.38  lakh , PCR @0.85
  • Nifty Jan Future Open Interest Volume is at 1.38 Cores with addition of 0.39 Lakh with decrease in cost of carry suggesting short position were covered today, NF Rollover cost @13975, 
  • 14600 CE is having Highest OI at 29.2 Lakh, resistance at 14600 followed by 14700.14500-14600 CE added 14.2 Lakh in OI so bears added in range of 14500-14600.FII bought 7.2 K CE and 12.6 K CE were shorted by them. Retailers bought 38 K CE and 52.8 K  CE were shorted by them.
  • 14200 PE OI@47.1 Lakhs having the highest OI strong support at 14200 followed by 14100. 14000-14300 PE added 32 Lakh in OI so bulls addded position in range 14100-14200.FII sold 355 PE and 10.7 K PE were shorted by them. Retailers bought 137 K PE and  112 K PE were shorted by them.
  • FII’s bought 571 cores and DII’s sold 1334 cores in cash segment.INR closed at 73.37

Buy Above 14570 Tgt 14599,14625 and 14666  (Nifty Spot Levels)

Sell Below 14510 Tgt 14485,14466 and 14444 (Nifty Spot Levels)

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