Nifty EOD Analysis for 01 Oct

  • FII bought 10.7  K contracts of Index Futures worth 700 cores, Net OI has decreased by 1.1 K contracts, 4.8 K Long contracts were added by FII and 5.9 K shorts were covered by FII. Net FII Long to Short ratio is at 0.56, So FII used this fall to enter longs and exit shorts.
  • As Discussed in Last Analysis;  We can see a big move in  Nifty as we have the monthly close and time cycle dates suggesting that we should see a good move. Bulls now need a close above 11570 for a move back to 11610/11666/11740. Bears will get active below 11485 for a move back to 11416/11370. We got a big move as per expectations and hit all targets below 11485. Now Nifty Bulls need to close above 11500 for a move back to 11575/11610/11666. Bears will get active below 11449 for a move back to 11410/11370. IF today’s low is held, we can rally back to 11600.

  • Total Future & Option trading volume at 9.33 Lakh cores with total contracts traded at 1.56 lakh, PCR @0.94.
  • Nifty Oct Future Open Interest Volume is at 1.46 core with the addition of 1.4 Lakh and with an increase in the cost of carry, suggesting long positions were added today, NF Rollover cost is @11608 and closed below it. 
  • 11700 CE is having a Highest OI at 15 Lakh, resistance at 11700, followed by 11800. 11200-11700 CE added 7.1 Lakh in OI, so bears added positions in the range of 11600-11700. FII bought 16.5 K CE Long and 11.3 K CE were shorted by them. Retails bought 194 K CE and 132 K  CE were shorted by them. 
  • 11500 PE OI @13.1 Lakhs, having the highest OI and strong support at 11500, followed by 11400. 11200-11700 PE added 2 Lakh in OI, so bulls added positions in the range of 11400-11600. FII bought 18 K PE Long and 10 K PE were shorted by them. Retails bought 26.8 K PE, and 34.3 K PE were shorted by them. 
  • FII’s sold 469 cores and DII’s bought 504 cores in the cash segment. INR closed at 71.09

Buy Above 11490 Tgt 11520,11550 and 11575 (Nifty Spot Levels)

Sell Below 11450 Tgt 11430,11410 and 11370 (Nifty Spot Levels)