Nifty corrects 222 points from 11035

By | February 12, 2019 9:20 pm

  • FII’s bought 7.1 K contract of Index Future worth 401 cores 6.4  K Long contract were added by FII’s and 637  Short contracts were covered by FII’s. Net Open Interest increased  by 5.8 K contract, so fall in Nifty was used by FII’s to enter long and exit short in  Index futures.FII’s Long to Short Ratio at 1.12. Learn How to Pull the Trigger on a Trade
  • As Discussed in Last Analysis  Till we are below 10930 bears have upperhand and can go towards 10850/10814/10777. We have time cycle confluence on 12-13 Feb so expect good move in Nifty in coming 2 days. High made today was 10910 so bears defended 10930 and were rewarded with 2 target on downside,Bulls will get active above 10857 for a move back to 10885/10930. Bears will get active below 10810 for a move towards 10784/10730.

  • Nifty Feb Future Open Interest Volume is at 2.17 core with addition of 0.61 Lakh with  decrease in  cost of carry suggesting short position were closed today, NF Rollover cost @10727 closed above it
  • 11000 CE  is having Highest OI  at 39.3 Lakh, resistance at 11000 followed by 11100 .10400-11000 CE added 8.9 lakh in OI so bears  added position in range of 10900-11000. FII bought 2 K CE and 10.6 K CE were shorted by them. Retail bought 140 K CE and 68.9 K CE were shorted by them.
  • 10700 PE OI@ 28.5 Lakhs having the highest OI strong support at 10800 followed by 10700 . 10500-11000 PE liquidated 6.2 Lakh in OI so bulls covered position in range 10700-10800 PE. FII bought 2 K PE and 10.6 K PE were shorted by them. Retail sold 40 K PE and 1.8 K PE were shorted by them.
  • Total Future & Option trading volume at 6.83 Lakh core with total contract traded at 1.08 lakh , PCR @0.93

Buy above 10857 Tgt 10885,10910 and 10930 (Nifty Spot Levels)

Sell below 10820 Tgt 10800,10777 and 10743 (Nifty Spot Levels)

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Category: Nifty Technical Analysis

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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