Nifty Monthly Closing Analysis

  • FII sold 1.9  K contract of Index Future worth 259 cores, Net OI has decreased by 6.6 K contract, 4.2 K Long contract were covered by FII and 2.3 K short were covered by FII. Net FII Long Short ratio at 0.48, So FII used fall to exit longs and exit shorts.
  • As Discussed in Last Analysis – Now Bulls need to move above 11580 for a move back to 11621/11664/11740. Bears have there chance below 11520 for a move back to 11466/11410. It was a volatile day and nifty formed an inside bar candle, We can see a big move in  nifty as we have monthly closing and time cycle date of nifty suggesting we should see a good move in nifty. 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

  • Total Future & Option trading volume at 6.54  Lakh core with total contract traded at 1.24 lakh , PCR @0.88
  • Nifty Oct Future Open Interest Volume is at 1.45 core with liquidation of 2.3 Lakh with increase in  cost of carry suggesting long position were closed today, NF Rollover cost @11608 closed below it. 
  • 11700 CE is having Highest OI at 13 Lakh, resistance at 11700 followed by 11800 .11200-11700 CE added 7.1 Lakh in OI so bears added position in range of 11600-11700. FII bought 14.4 K CE Long and 33 K CE were shorted by them. Retails bought 160 K CE and 125 K  CE were shorted by them. 
  • 11500 PE OI@13.1 Lakhs having the highest OI strong support at 11500 followed by 11400 . 11200-11700 PE added 1.7 Lakh in OI so bulls added position in range 11400-11600. FII bought 34  K PE Long and 7.6 K PE were shorted by them. Retails bought 71.6 K  PE and 98.3 K  PE were shorted by them. 
  • FII’s  sold 213 cores and DII’s bought 458 cores in cash segment.INR closed at 70.77

Buy Above 11535 Tgt 11570,11600 and 11630 (Nifty Spot Levels)

Sell Below 11499 Tgt 11476,11444 and 11412 (Nifty Spot Levels)