Will Nifty Bulls be able to protect 10240 on Weekly Close

By | November 9, 2017 11:35 pm

  • FII’s sold 14.8 K contract of Index Future worth 1112 cores ,6.1 K Long contract were liquidated by FII’s and  8.6  K Short contracts were added by FII’s. Net Open Interest increased  by 2.5 K contract, so fall in market was used by FII’s to exit long and enter  short in  Index futures. FII’s Long to Short Ratio at 1.26. FII using all rallies to create short,caution should be advised on longs. Demonetization has been beneficial to Stock Market

 

  • As discussed in last analysis  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. Nifty went below 10300 but failed to do our target of 10240, and closed at the border line of 10308. As we have another major trend change date tommrow so time to be cautious again, we will get gap down opening tommrow and price action near 10240 should be seen. Bearish below 10240 for a move towards 10123/10090.  Bullish above 10330 for a move towards 10380/10430/10490.. Bank Nifty Technical Set up as we approach 10 Nov Time Cycle Date

 

  • Nifty Nov Future Open Interest Volume is at 2.47 core with addition of 0.61 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 11.9 Lakh core with total contract traded at 1.18 lakh , PCR @0.85
  • 10500 CE  is having Highest OI  at 45.2 Lakh, resistance at 10500 followed by 10600 .10000-10500 CE added 1.2 Lakh in OI so bears added major  position  in range of 10400-10500 . FII sold 7.6 K CE and 1 K shorted CE were covered by them. Retail sold 135 K CE and 100 K CE were shorted by them
  • 10200 PE OI@54.9 lakhs having the highest OI strong support at 10200 followed by 10150. 10000-10500 PE added 4.9 Lakh in OI so bulls added position  in 10000-10200 PE. FII sold 3.4 K PE and 1.2 K  PE were shorted by them. Retail sold 72 K PE and 57.9 K PE were shorted by them.
  • FII’s sold 713 cores  and DII’s bought 231 cores in cash segment.INR closed at 64.94

Buy above 10325 Tgt 10350,10365 and 10385 (Nifty Spot Levels)

Sell below 10240 Tgt 10214,10180 and 10160(Nifty Spot Levels)

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