FII’s sold 10.3 K contract of Index Future worth 488 cores 2.8 K Long contract were covered by FII’s and 7.5 K Short contracts were added by FII’s. Net Open Interest increased by 4,7 K contract, so rise in Nifty was used by FII’s to exit long and enter short in Index futures.FII’s Long to Short Ratio at 0.74. Stock Market and State Elections Part -II
As Discussed in Last AnalysisWe did a perfect move from 1 gann angle to another, Bullish above 10570 for a move towards 10630/10712/10777.Bearish below 10512 for a move back to 10485/10410/10370. Low made today was 10560 so above 10570 we did all the target till 10712.Intraday Levels mentioned on Twitter must have helped trader in riding the full move we did today. Now Bulls need close above 10800 for a move back to 10882/10941/11000,Bears will get active below 10656 for a move back to 10610/10555 .Important intraday time for reversal can be at 10:22/2:04. Bank Nifty rallies 450 points breaking Election Day High
Nifty Dec Future Open Interest Volume is at 2.15 core with addition of 2.9 Lakh with increase in cost of carry suggesting long position were closed today, NF Rollover cost @10727 closed above it.
11000 CE is having Highest OI at 43.5 Lakh, resistance at 10800 followed by 11000 .10000-10600 CE liquidated 21.2 lakh in OI so bears covered position in range of 10400-10600. FII sold 129 CE and 5.4 K shorted CE were covered by them. Retail sold 28.5 K CE and 14 K shorted CE were covered by them.
10500 PE OI@ 39.1 Lakhs having the highest OI strong support at 10500 followed by 10400 . 10200-11000 PE added 21 Lakh in OI so bulls added position in range 10400-10500 PE. FII bought 7.8 K PE and 2.2 K shorted PE were covered by them. Retail bought 143 K PE and 100 K PE were shorted by them.
Total Future & Option trading volume at1 9.56 Lakh core with total contract traded at 2.4 lakh , PCR @1.02