Nifty bears break 10170,follow up move required

By | October 22, 2017 8:59 pm

  • 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

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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Category: Daily

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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