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- FII’s sold 7.8 K contract of Index Future worth 602 cores ,1.5 K Long contract were added by FII’s and 9.4 K Short contracts were added by FII’s. Net Open Interest increased by 31.1 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 1.38 , Hope readers used caution we advised Yesterday . FII using Highs to create short,caution should be advised on longs. Demonetization has been beneficial to Stock Market
- As discussed in last analysis 07-08 November is again another important time cycle date, so trend reversal can be seen around these date. Nifty crossed 10471 but failed to close above it, Shorts can be taken below 10410 for a move towards 10340/10240. Longs above 10471 for a move towards 10520-30. Now range of 10318-325 is crucial range if held we can see bounce back towards 10413-10443. Bearish below 10300 for a move towards 10240/10180. Nifty closed at border line at 10300, Any Hourly close below 10300 can see nifty quickly falling towards 10240/10123. Bullish above 10330 for a move towards 10380/10430/10490. We have corrected 150 points from the trend change date of 07 Nov. Bank Nifty corrects 300 point on Trend Change date,EOD Analysis
- Nifty Nov Future Open Interest Volume is at 2.46 core with liquidation of 1.2 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @10280 closed above it.
- Total Future & Option trading volume at 8 Lakh core with total contract traded at 1.11 lakh , PCR @0.85
- 10500 CE is having Highest OI at 46.8 Lakh, resistance at 10500 followed by 10600 .10000-10500 CE added 15.8 Lakh in OI so bears added major position in range of 10400-10500 . FII bought 193 CE and 6.6 K CE were shorted by them. Retail bought 84.9 K CE and 42.6 K CE were shorted by them
- 10200 PE OI@50.6 lakhs having the highest OI strong support at 10200 followed by 10150. 10000-10500 PE liquidated 7.2 Lakh in OI so bulls covered position in 10000-10200 PE. FII bought 2.9 K PE and 2.9 K PE were shorted by them. Retail bought 6.5 K PE and 10.9 K PE were shorted by them.
- FII’s sold 3838 cores and DII’s bought 3038 cores in cash segment.INR closed at 64.96
- Nifty Futures Trend Deciding level is 10377 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 10402. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 10325 Tgt 10350,10365 and 10385 (Nifty Spot Levels)
Sell below 10285 Tgt 10265,10240 and 10225 (Nifty Spot Levels)
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