Nifty Bears corrects 120 points from 11617,EOD Analysis


  • FII’s sold 4.2 K contract of Index Future worth 335 cores ,3.1 K Long contract were added by FII’s and 7.3 K Short contracts were added by FII’s. Net Open Interest increased  by 10.5 K contract, so fall in market was used by FII’s to enter long and enter short in  Index futures.  FII’s Long to Short Ratio at 1.34.Honored to be part Online Trading Summit
  • As Discussed in Last Analysis  Finally we got the big move we were expecting as per time cycle, Now Bears need to hold 11617 continue the down move towards 11545/11470. Bullish above 11664 for a move back to 11740. Low made was 11496 so bears got 120 points from the level of 11617,Now Bears need to break 11481 for the downmove to continue towards 11441/11400/11336. Bullish only above 11551 for a move back to 11623/11664. Important intraday time for reversal can be at 10:40/1:19.Bank Nifty corrects 766 points with break of time cycle low,EOD Analysis

 

  • Nifty Sep Future Open Interest Volume is at 2.54 core with addition of 0.74 Lakh with increase in  cost of carry suggesting short position were added today, NF Rollover cost @11747 and Rollover %@ 67
  • 11800 CE  is having Highest OI  at 41.6 Lakh, resistance at 11750 followed by 11800 .11500-11800 CE added 17.2 lakh in OI so bears  added position in range of 11650-11800 CE. FII sold 6.3 K CE and 15.2 K CE were shorted by them. Retail bought 119 K CE and 48.3 K  CE were shorted  by them.

 

  • 11500 PE OI@36.7 akhs having the highest OI strong support at 11400 followed by 11500 . 11500-12000 PE liquidated 2.5 Lakh in OI so bulls covered position in range 11500-11600 PE. FII bought 28.9 K PE and 8 K  PE were shorted by them. Retail bought 3.7 K PE and 31.1 K PE were shorted by them.
  • Total Future & Option trading volume at1 10.7 Lakh core with total contract traded at 1.37 lakh , PCR @0.91

 

 

Buy above 11540 Tgt 11555,11580 and 11610 (Nifty Spot Levels)

Sell below 11495 Tgt 11477,11450 and 11420(Nifty Spot Levels)

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