Nifty Unable to close above 11025 again amid political uncertainty

By | July 18, 2018

  • FII’s bought 3.9 K contract of Index Future worth 357 cores ,3 K Long contract were added by FII’s and 917 Short contracts were covered by FII’s. Net Open Interest increased  by 2.1 K contract, so fall in market was used by FII’s to enter long and exit short in  Index futures.  FII’s Long to Short Ratio at 1.18. Thought Process of an Amateur Trader

 

  • As Discussed in Last Analysis    Now Bulls need a close above 11025 for a move towards 11068/11130/11172/11216. Bearish below 10920 only. Nifty opened with gap and failed to close above 11025 again, facing lot of resistance at gann angle as shown below after tweaking the price step, We have political uncertainty also emerging with No Trust vote coming for government on Friday also today was an important time cycle date, Break of today high and low can see easily 100-150 points.Bullish above 11025 for a move back towards 11060/11126/11216. Bearish below 10920 for a move back to 10876/10812. Important intraday time for reversal can be at 1:27. Bank Nifty trade volatile amid political uncertainty 

  • Nifty July Future Open Interest Volume is at 2.45 core with liquidation of 5.2 Lakh with decrease in  cost of carry suggesting long position were closed today, NF Rollover cost @10720 closed above it.
  • 11100 CE  is having Highest OI  at 31.9  Lakh, resistance at 11100 followed by 11200 .10200-11000 CE liquidated 6.1 lakh in OI so bears  covered  position in range of 10800-11000 CE. FII sold 459 CE and 9.1 K  CE were shorted by them. Retail sold 34.6 K CE and 14 K CE were shorted by them.

 

  • 10800 PE [email protected] lakhs having the highest OI strong support at 10800 followed by 10700 . 10200-11000 PE added 11.5 Lakh in OI so bulls covered position in range 10700-10900 PE. FII bought 15.7 K CE and 2.4 K PE were shorted by them. Retail bought 84.7 K PE and 65 K PE were shorted by them.
  • Total Future & Option trading volume at 11.96 Lakh core with total contract traded at 1.35 lakh , PCR @1.05

 

  • FII’s bought 95 cores  and DII’s bought 111 cores in cash segment.INR closed at 68.61

 

Buy above 11005  Tgt 11025,11052 and 11088 (Nifty Spot Levels)

Sell below 10950 Tgt 10930,10900 and 10885 (Nifty Spot Levels)

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