Nifty EOD Analysis for 06 Nov

  • FII sold 2.2 K contracts of Index Futures worth 113 cores, Net OI has increased by 5.6 K contracts, 1.6 K Long contracts were added by FII and 3.9 K shorts were added by FII. The net FII Long to Short ratio is at 0.78, so FII used this rise to enter longs and enter shorts.
  • As discussed in last analysis; Bulls need a close above 11948 for a move back to 12002/12057/12112. Bears need a close below 11890 for a move back to 11838/11784/11715. 05 Nov is a very important date as per gann. Bears got whipsawed below 11890 and closed below 11948. Bulls need a close above 11948 for a move back to 12002/12057/12112. Bears need a close below 11890 for a move back to 11838/11784/11715.

  • Total Future & Option trading volume is at 9.3 Lakh cores, with total contracts traded at 0.99 lakh, PCR @0.95
  • Nifty Nov Future Open Interest Volume is at 1.50 Lakh cores, with the addition of 4.2 Lakh and with a decrease in the cost of carry suggesting long positions were closed today, NF Rollover cost is @11814 and closed above it. 
  • 12000 CE is having a Highest OI at 20 Lakh, resistance at 12000, followed by 12100. 11200-11700 CE added 8.3 Lakh in OI, so bears added positions in the range of 12000-12100. FII bought 4.3 K CE and 8.2 K CE were shorted by them. Retailers bought 81.9 K CE and 57.8 K CE were shorted by them.
  • 11700 PE OI@18 Lakhs having the highest OI strong support at 11700, followed by 11600. 11000-11700 PE added 2 Lakh in OI so bulls added positions in the range of 11600-11700. FII bought 8 K PE and 8.9 K PE were shorted by them. Retailers bought 10.6 K PE and 20.8 K PE were shorted by them.
  • FII’s bought 473 cores and DII’s sold 1593 cores in the cash segment. INR closed at 70.79

Buy Above 11923 Tgt 11945,11970 and 12000 (Nifty Spot Levels)

Sell Below 11890 Tgt 11860,11843 and 11821 (Nifty Spot Levels)