Nifty EOD Analysis for 22 Oct

  • As discussed in last analysis  11600 done and we got the big move as per expectation as Uranus Neptune showed effect, Now Bulls need to move above 11600 for a move back to 11666/11721/11800. Bears will get active below 11520 for a move back to 11485/11411.11666 done, Now Bulls need a clsoe above 11666 for upmove to continue towards 11740/11810/11888. Bears will get active below 11610 for a move back to 11570/11520.
  • FII sold 7.3 K contract of Index Future worth 559 cores, Net OI has decreased by 5 K contract, 6.1 K  Long contract were covered by FII and 1.1 K short were added by FII. Net FII Long Short ratio at 0.71, So FII used rise to exit longs and enter shorts.

  • Total Future & Option trading volume at 7.45 Lakh core with total contract traded at 1.18 lakh , PCR @0.86
  • Nifty Oct Future Open Interest Volume is at 1.36 core with liquidation of 4 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @11608 closed above it. 
  • 11700 CE is having Highest OI at 25  Lakh, resistance at 11700 followed by 11800 .11200-11700 CE liquidated 10 Lakh in OI so bears covered position in range of 11500-11600. FII Bought 25.5 K CE and 15.6 K CE were shorted by them. Retail bought 52.1 K CE Long and 58.7 K CE were shorted by them.
  • 11300 PE OI@30 Lakhs having the highest OI strong support at 11500 followed by 11400 . 11000-11700 PE added 18.9 Lakh in OI so bulls added position in range 11300-11400.FII Bought 9 K PE and 26.4 K PE were shorted by them. Retail bought 105 K PE Long and 90 K PE were shorted by them.
  • FII’s bought 36 cores and DII’s bought 586 cores in cash segment.INR closed at 71.29

Buy Above 11700 Tgt 11721,11743 and 11777 (Nifty Spot Levels)

Sell Below 11625 Tgt 11610,11585 and 11555 (Nifty Spot Levels)