- FII’s bought 7.5 K contract of Index Future worth 616 cores ,8 K Long contract were aided by FII’s and 454 Short contracts were added by FII’s. Net Open Interest increased by 8.4 K contract, so rise in Nifty was used by FII’s to enter long and enter short in Index futures.FII’s Long to Short Ratio at 0.88. Stock Market and State Elections Part -II
- As Discussed in Last Analysis Now Bulls need to move above 10648 for a move back to 10690/10730/10800. Bearish below 10570 for a move back to 10512/10470/10410. Exit Polls result will be announced tomorrow evening so better not to carry position overnight as we are going to see lot of volatility in next 2 trading session, It was a day of whipsaw for Nifty around 10648 but only silver lining was it did not break 10600 as discussed on twitter , Low made was 10599 and we had a 100 points relief rally from that point As cautioned never take overnight position when we have Exit Poll news lined up,Nifty likely to open gap down bulls need to protect 10600 if we get gap down. Bears will get active below 10590 for a move towards 10555/10512/10470/10410. Bullish levels i will update on twitter during market hours based on gap down. Important intraday time for reversal can be at 9:48/10:28/2:35. Bank Nifty does a perfect Gann Angle Trade
- Nifty Dec Future Open Interest Volume is at 2.20 core with addition of 6.3 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @10727 closed above it.
- 11000 CE is having Highest OI at 37.1 Lakh, resistance at 10800 followed by 11000 .10400-11000 CE liquidated 6.8 lakh in OI so bears covered position in range of 10600-10800. FII bought 1.8 K CE and 1 K CE were shorted by them. Retail bought 27.4 K CE and 26.8 K CE were shorted by them.
- 10500 PE OI@ 48.9 Lakhs having the highest OI strong support at 10550 followed by 10500 . 10000-10700 PE added 22.7 Lakh in OI so bulls added position in range 10400-10500 PE. FII bought 8.8 K PE and 15.1 K PE were shorted by them. Retail bought 112 K PE and 72 K PE were shorted by them.
- Total Future & Option trading volume at1 4.2 Lakh core with total contract traded at 1.2 lakh , PCR @0.81
Buy above 10666 Tgt 10699,10721 and 10771 (Nifty Spot Levels)
Sell below 10625 Tgt 10600,10570 and 10525 (Nifty Spot Levels)
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