Nifty closed the January series with massive gain of 778 points, In last 15 years big gains were made in January series in 2012 and 2001 As discussed yesterday Nifty is took support at its HEMA@ 8861 and bulls made nifty rally in last 45 mins. Monthly and Weekly closing today as seen in below chart Nifty is near trendline resistance in Monthly chart so today’s price action need to be watched as we get breakout or give some correction from trendline resistance.
Nifty Future Feb Open Interest Volume is at 2.47 core with addition of 42 lakhs , so series starting on heavy note.2.25 lakhs got rollovered in range of 8900-9100 so this range needs to be watched for breakout or breakdown in NF for feb series.
Total Future & Option trading volume was at 5.80 lakh core with total contract traded at 6 lakh. PCR @1.
9000 CE OI at 34.7 lakh so wall of resistance @ 9000 .8500/8900 CE saw addition of 13.4 lakhs so bears have also warming themselves up . FII bought 52.5 K CE and 9.6 K shorted CE were covered by them.
8800 PE OI@ 22.6 lakhs so strong base @ 8800. 8500/8900 PE added 31.9 lakh in OI so bulls have started put writing in huge number in start of series.
FII’s bought 1723 cores in Equity and DII sold 1680 cores in cash segment.INR closed at 61.86.