Nifty Ready for a Big Move

  • FII bought 1 K contract of Index Future worth 9 cores, Net OI has decreased by 5.3 K contract 3.1 K Long contract were added by FII and 2.1 K Shorts were added by FII. Net FII Long Short ratio at 2.6 so FII used rise to enter longs and enter shorts.
  • As discussed in Last Analysis  Today is again an important date as explained in below video. Bulls now need to move above 14615 for a move back to 14676/14729. Bears below 14495 towards 14435/14374. High made waws 14617 and low made was 14471 so bears got whipsawed and bulls unable to move above the level and we formed an inside bar candel. We should see a big move in nifty in next 2 trading sessions. Bulls now need to move above 14615 for a move back to 14676/14729. Bears below 14525 towards 14444/14374. 

  • Total Future & Option trading volume at 62.9 Lakh core with total contract traded 1.08  lakh , PCR @1.01
  • Nifty Jan Future Open Interest Volume is at 1.32 Cores with liqudiation of 0.59 Lakh with decrease in cost of carry suggesting short position were covered today, NF Rollover cost @13975, 
  • 14700 CE is having Highest OI at 22 Lakh, resistance at 14600 followed by 14700.14500-14600 CE added 18 Lakh in OI so bears added in range of 14500-14600.
  • 14400 PE OI@16.7  Lakhs having the highest OI strong support at 14400 followed by 14300. 14400-14300 PE added 12 Lakh in OI so bulls addded position in range 14400-14500.
  • FII’s bought 1079 cores and DII’s sold 188 cores in cash segment.INR closed at 73.15

Buy Above 14616 Tgt 14650,14680 and 14707  (Nifty Spot Levels)

Sell Below 14575 Tgt 14545,14525 and 14415 (Nifty Spot Levels)

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