Nifty bears break 10170,follow up move required

FII’s bought 11.3 K contract of Index Future worth 967 cores ,7 K Long contract were added by FII’s and4.3 K Short contracts were liquidated by FII’s. Net Open Interest increased by 618 contract, so fall in market was used by FII’s to enter long and exit short in Index futures. FII’s Long to Short Ratio at 1.87. FII Long to short ratio signaled bottom on 27 Sep when its hit 0.99 and we are up 500 points in 13 trading sessions. Muhurat Trading: Vows Traders should make

As discussed in last analysis Nifty bulls need a close above 10253 for another up move towards 10355/10400/10521/19575. Bearish below 10090 for a move towards 10000/9930. High made today was 10252 so bulls are still not able to break 10253 and start the next round of rally, bears are also unable to close below 10170 so nifty is consolidating in small range after a good rally of 200 points, Nifty made high of 10252 on Wednesday but failed to close above 10253, Nifty broke 10170 on Muhurat day and made low of 10123,suggesting bears are in control till we are trading below 10170 heading towards 10090/10000/9930 Nifty bulls need a close above 10253 for another up move towards 10355/10400/10521/10575. Bank Nifty corrects 400 points on break of 24476,EOD Analysis

Nifty October Future Open Interest Volume is at 2.61 core with liquidation of 3.4 Lakh with decrease in cost of carry suggesting short position were added today, NF Rollover cost @9857 closed above it and up 400 points

Total Future & Option trading volume at 3.2 Lakh core with total contract traded at 0.81 lakh , PCR @1.08

10200 CE is having Highest OI at 35.9 Lakh, resistance at 10200 followed by 10250 .10000-10500 CE added 9 Lakh in OI so bears added position in range of 10200-10300. FII bought 3.1 K CE and 918 shorted CE were covered by them. Retail bought 63 K CE and 38.1 K CE were shorted by them.

10000 PE OI@76 lakhs having the highest OI strong support at 10000 followed by 9900. 10000-10500 PE added 4.2 Lakh in OI so bulls added major position in 10000-10200 PE. FII bought 5.9 K PE and 727 PE were shorted by them. Retail bought 15.6 K PE and 18.8 K PE were shorted by them

FII’s sold 1251 cores and DII’s bought 904 cores in cash segment.INR closed at 65.04

Nifty Futures Trend Deciding level is 10161 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 10032. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level

Buy above 10175 Tgt 10200,10225 and 10250 (Nifty Spot Levels)

Sell below 10120 Tgt 10090,10075 and 10050 (Nifty Spot Levels)

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