Nifty Ready for Big Move, EOD Analysis

  • As discussed in last analysis; Now Bulls need a close above 11666 for the upmove to continue towards 11740/11810/11888. Bears will get active below 11610 for a move back to 11570/11520. A high was made at 11714, so we missed the target of 11740, and bears made a low of 11573 near our target of 11570. As we have an important time cycle date tomorrow, we should be ready for s big move in Nifty. Bulls need a close above 11630 for the rally to continue till 11680/11734/11789. Bears will get active below 11570 for a move back to 11519/11465.
  • FII bought 13 K contracts of Index Futures worth 1328 cores, Net OI has increased by 15.5 K contracts, 14.3 K  Long contracts were added by FII and 1.2 K short were added by FII. Net FII Long to Short ratio is at 0.86, So FII used the rise to enter longs and enter shorts.

  • An important intraday time for reversal can be at 9:24/10:26/11:18/12:05/1:34/2:34 
  • Total Futures & Options trading volume is at 10.27 Lakh cores with the total contracts traded at 1.43 lakh, PCR @0.95
  • Nifty Oct Future Open Interest Volume is at 1.49 cores with the addition of 12.6 Lakh and with an increase in the cost of carry, suggesting short positions were added today, NF Rollover cost is @11608 and closed above it. 
  • 11700 CE is having a Highest OI at 43.9 Lakh, resistance at 11700, followed by 11800. 11200-11700 CE added 6.8 Lakh in OI, so bears added positions in the range of 11700-11600. FII sold 6 K CE and 3.5 K CE were shorted by them. Retail bought 126 K CE Longs and 68.7 K CE were shorted by them.
  • 11500 PE OI@18.7 Lakhs having the highest OI strong support at 11500, followed by 11400. 11000-11700 PE liqudiated 5.6 Lakh in OI, so bulls covered positions in the range of 11300-11400. FII Bought 9.9 K PE and 1.8 K shorted PE were covered by them. Retail bought 50.7 K PE Long and 50 K PE were shorted by them.
  • FII’s sold 557 cores and DII’s sold 985 cores in the cash segment. INR closed at 71
  • Nifty Futures Trend Deciding level is at 11656  For Intraday Traders. The NF Trend Changer Level (Positional Traders) is at 11434 

Buy Above 11610 Tgt 11625,11650 and 11676 (Nifty Spot Levels)

Sell Below 11570 Tgt 11550,11530 and 11500 (Nifty Spot Levels)