Nifty Technical setup after Budget

FII’s bought 20.9 K contract of Index Future worth 1711 cores 20.5 K Long contract were added by FII’s and 393 Short contracts were covered by FII’s. Net Open Interest increased by 20.1 K contract, so rise in Nifty was used by FII’s to enter long and exit short in Index futures.FII’s Long to Short Ratio at 0.82.Historical Nifty Movement on Budget Day

As Discussed in Last Analysis Now as tomorrow being a Budget day and lot of volatility will be seen in market so trade with extreme caution, Bulls will get active above 10843 for a move towards 10885/10931/10985/11040. Bears will get active below 10777 for a move back to 10730/10666/10610/10555. Bulls were able to reach 3 target of 10985 Major Trend for next 1 month will be decided with break of 10985 on upside and break of 10813 on downside, Will Share my analysis on my Youtube Video in weekend . Bulls need to close above 10910 for a move towards 10985/11035/11100. Bears will get active below 10810 for a move towards 10730/10666/10610.

Important intraday time for reversal can be at 11:21/12:37/2:06.Bank Nifty Technical setup after Budget

Nifty Feb Future Open Interest Volume is at 1.79 core with addition of 7.4 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @10727 closed above it

11000 CE is having Highest OI at 37.4 Lakh, resistance at 11000 followed by 11000 .10400-11000 CE added 1.6 lakh in OI so bears added position in range of 10900-11000. FII bought 16.8 K CE and 13.4 K CE were shorted by them. Retail bought 185 K CE and 130 K CE were shorted by them.

10700 PE OI@ 29.6 Lakhs having the highest OI strong support at 10700 followed by 10600 . 10500-11000 PE added 25.4 Lakh in OI so bulls added position in range 10700-10600 PE. FII bought 10.7 K PE and 11 K PE were shorted by them. Retail bought 85.7 K PE and 58.3 K PE were shorted by them.

Total Future & Option trading volume at 9.14 Lakh core with total contract traded at 2.50 lakh , PCR @0.89

FII’s bought 1315 cores and DII’s sold 5 cores in cash segment.INR closed at 71.24. USD INR Weekly Forecast for 21-25 Jan

Nifty Futures Trend Deciding level is 10923 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 10859 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level

Buy above 10910 Tgt 10931,10960 and 10985 (Nifty Spot Levels)