Nifty does Price Time Squaring

By | July 24, 2019

  • FII’s sold 6 K contract of Index Future worth 599 cores 15.6 K Long contract were added by FII’s and 21.7K Short contracts were added by FII’s. Net Open Interest increased  by 37 K contract, so fall  in Nifty was used by FII’s to enter long and enter short in  Index futures.FII’s Long to Short Ratio at 0.88
  • As Discussed in Last Analysis Nifty took support at the gann level of 11301, till we are holding this level we can see a relief rally towards 11400/11461/11525/11600. Bears will get active below 11300 for a move towards 11239/11194/11142. High made today was 11398 so we almost did 11400 ,low made was 11302 so we formed Inside bar pattern. Bears will get active below 11300 for a move towards 11239/11194/11142.Bulls above 11343 can push towards 11400/11461/11525/11600.Nifty is doing Price Time Squaring if 11301 is protected.

  • Nifty July Future Open Interest Volume is at 1.19 core with liquidation of 73 Lakh with  increase in  cost of carry suggesting long position were added today, NF Rollover cost @11841 closed below it.
  • Total Future & Option trading volume at 12.25  Lakh core with total contract traded at 1.52 lakh , PCR @0.86
  • 11600 CE  is having Highest OI  at 32.5 Lakh, resistance at 11600 followed by 11700 .11500-12000 CE added 18 Lakh in OI so bears added position in range of 11600-11800.FII sold 10.2 K CE and 792 CE were shorted by them. Retail bought 63 K CE and 30 K CE were shorted by them.
  • 11300 PE OI@38 Lakhs having the highest OI strong support at 11300 followed by 11400 . 11000-11700 PE added 6.4 Lakh in OI so bulls added position in range 11300-11400.FII bought 6.2 K PE and 7.5 K PE were shorted by them. Retail bought 18.7 K PE and 26.1 K PE were shorted by them.

Buy above 11344 Tgt 11376,11398 and 11441 (Nifty Spot Levels)

Sell below 11300 Tgt 11270,11250 and 11222 (Nifty Spot Levels)

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