- As discussed in last analysis Low made was 11411 so bulls protected 11395 we have formed a NR 7 is Nifty suggesting big move round the corner and also we have important time cycle date tomorrow, so good move will be seen in nifty in coming 2 sessions. Bulls need to hold 11410-111430 for the up move to continue towards 11522/11576/11610.Bears will get active below 11395 for a move back to 11342/11290. 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.
- FII bought 11.2 K contract of Index Future worth 793 cores, Net OI has decreased by 2.4 K contract, 4.9 K Long contract were added by FII and6.8 K short were covered by FII. Net FII Long Short ratio at 0.79, So FII used rise to enter longs and exit shorts.
- Total Future & Option trading volume at 26 Lakh core with total contract traded at 1.44 lakh , PCR @0.77
- Nifty Oct Future Open Interest Volume is at 1.40 core with liquidation of 1.9 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @11608 closed below it.
- 11600 CE is having Highest OI at 21.3 Lakh, resistance at 11600 followed by 11700 .11200-11700 CE liquidated 10 Lakh in OI so bears covered position in range of 11500-11600.
- 11300 PE OI@30 Lakhs having the highest OI strong support at 11300 followed by 11200 . 11000-11700 PE added 18.9 Lakh in OI so bulls added position in range 11300-11400.
- FII’s bought 1158 cores and DII’s sold 511 cores in cash segment.INR closed at 71.23
Buy Above 11600 Tgt 11621,11643 and 11666 (Nifty Spot Levels)
Sell Below 11540 Tgt 11520,11490 and 11466 (Nifty Spot Levels)