Nifty Technical Analysis before RBI event

By | August 4, 2014

FII_1

  • FII’s bought 7492  contract of Index Future worth 289 cores, 9.1  K Long contract were added  and 1.6 K short contracts were added by FII’s. Net Open Interest increased  by 10.8 K contract.
  • We have RBI Policy tomorrow, Nifty today 21 HEMA@7694 and nears 34 HEMA @7715 closing above it on 2 hour basis will confirm a fresh uptrend else the down move will resume.

Nifty Hourly EW

 

nifty hourly

  • Nifty Future Aug Open Interest Volume is at 1.27 cores with addition of 2.7  lakh suggesting long addition .
  • Total Future & Option trading volume was   at 1.28  lakh core with total contract traded at 2.1 lakh. PCR @0.98, Today’s rise was not backed by volumes suggesting today’s rise can be retraced completely tomorrow.
  • 8000  CE  OI at 50.1  lakh  suggesting wall of resistance , 7800 CE saw 2   lakh with 11 lakh on Friday suggesting bears has not unwounded the position so we can see another round of selling  ,FII’s bought 11.6 K CE longs and 5.1 K  CE were  shorted  by   them.
  • 7300 PE OI@ 59.1 lakhs suggest bulls making base @7300 , 7500 PE added 11.3 and 7600 PE added 12.7 lakh , these 2 strike prices needs to be seen tomorrow after RBI policy any sign of unwinding will suggest we will break 50 DMA tomorrow. .FII’s sold 3.4 K PE longs and  10.8 K  PE were shorted by them.
  • FIIs bought 373  cores in Equity and DII sold 251  cores in cash segment.INR closed at 60.93.

 

Buy above 7695 Tgt 7721,7739 and 7784 (Nifty Spot Levels)

Sell below 7664 Tgt 7640, 7610 and 7580 (Nifty Spot Levels)

 

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6 thoughts on “Nifty Technical Analysis before RBI event

  1. Bramesh Post author

    Its covered in my trading course.

    Rgds,
    Bramesh

  2. abhikukreja

    Hi,

    How do you calculate how many longs and shorts were added??

  3. Paresh Kapadia

    Brameshji, really miss your Advance/Decline chart… Please restart it. Thanks.

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