Nifty EOD Analysis for 20 Nov

  • FII sold 429 contracts of Index Futures worth 62 cores, Net OI has increased by 7.8 K contracts, 3.6 K  Long contracts were added by FII, and 4.1 K shorts were added by FII. Net FII Long to Short ratio is at 0.64, so FII used this rise to enter longs and enter shorts.
  • As discussed in last analysis; Bulls need to break 11910 for the upmove to continue towards 11975/12034/12080. Bears have their chance below 11850  for a move back to 11800/11740/11666. 11958 was reached and now waiting for a higher target at 11975/12034/12080. Bears have their chance below 11850 for a move back to 11800/11740/11666.

  • Total Future & Option trading volume is at 9.6Lakh cores, with the total contracts traded at 1.02 lakh, PCR @0.83
  • Nifty Nov Future Open Interest Volume is at 1.56 Lakh cores, with the addition of 0.88 Lakh and with an increase in the cost of carry suggesting long positions were added today, NF Rollover cost is @11814 and closed above it. 
  • 12000 CE is having a Highest OI at 22.8 Lakh, resistance at 12000, followed by 12100. 11500-12000 CE liquidated 7.4 Lakh in OI, so bears covered positions in the range of 12000-12200. FII bought 4.7 K CE and 815 shorted CE were covered  by them. Retailers sold 46.4 K CE and 18.3 K shorted CE were covered by them.
  • 11900 PE OI@25.3  Lakhs, having the highest OI strong support at 11900, followed by 11800. 11500-12000 PE added 25  Lakh in OI, so bulls added positions in the range of 11800-11700. FII bought 13.8 K PE and 6.3 K  PE were shorted by them. Retailers bought 119 K PE and 82 K PE were shorted by them.
  • FII’s sold 915 cores and DII’s bought 262 cores in the cash segment. INR closed at 71.98

Buy Above 11946 Tgt 11970,11999 and 12034 (Nifty Spot Levels)

Sell Below 11920 Tgt 11895,11865 and 11843 (Nifty Spot Levels)