Nifty EOD Analysis for 06 Nov

• FII’s sold 10.8 K contract of Index Future worth 929 cores ,944 Long contract were added by FII’s and  11.8  K Short contracts were added by FII’s. Net Open Interest increased  by 12.7 K contract, so fall in market was used by FII’s to enter long and enter  short in  Index futures. FII’s Long to Short Ratio at 1.59,FII using Highs to create short,caution should be advised on longs.  Over a cup of humani-tea

• As discussed in last analysis    07-08 November is again another important time cycle date, so trend reversal can be seen around these date. 10471 is a level to watch in coming week, Bulls need a close above 10471 very important vedic number  for the rally to continue towards 10576/10600.If 10471 is not crossed we can see pullback towards 10300.   Nifty crossed 10471 but failed to close above it, Also as seen in below chart 10530-50 range so traders who are long should use this range to book out long or trail with 10410 as TSL. Shorts can be taken below 10410 for a move towards 10340/10240. Longs above 10471 for a move towards 10520-30.  Bank Nifty forms Gravestone Doji,EOD Analysis

 

• Nifty Nov Future Open Interest Volume is at 2.59 core with addition of 5.6 Lakh with increase in  cost of carry suggesting LOng position were added today, NF Rollover cost @10280 closed above it.
  

• Total Future & Option trading volume at 3.8 Lakh core with total contract traded at 0.73 lakh , PCR @0.98

• 10500 CE  is having Highest OI  at 32.8 Lakh, resistance at 10500 followed by 10600 .10000-10500 CE added 3.5 Lakh in OI so bears added partial position  in range of 10400-10500 . FII bought 6.9 K CE and 163 CE were shorted by them. Retail bought 31.8 K CE and 21.2 K CE were shorted by them
  

• 10200 PE OI@53.6  lakhs having the highest OI strong support at 10200 followed by 10150. 10000-10500 PE added 5.8  Lakh in OI so bulls added major position in 10000-10200 PE. FII bought 2.9 K PE and 4.7 K  PE were shorted by them. Retail bought 13.9 K PE and 19.6 K PE were shorted by them.
  

• FII’s bought 576 cores  and DII’s sold 263 cores in cash segment.INR closed at 64.75
  

• Nifty Futures Trend Deciding level is 10487 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 10416. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level

Buy above 10470 Tgt 10490,10515 and 10530 (Nifty Spot Levels)

Sell below 10430 Tgt 10405,10380 and 10350 (Nifty Spot Levels)

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