Nifty EOD Analysis for 02 Jul

By | July 1, 2019

  • FII’s bought 5.3  K contract of Index Future worth 446 cores 3.7 K Long contract were added by FII’s and 1.5 K  Short contracts were covered by FII’s. Net Open Interest increased  by 2.1 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 1.61 How Comfortable you are with your trading ?
  • As Discussed in Last Analysis 11777 done now waiting for target of 11721/11666. Bulls will get active above 11843 for a move back to 11910/11977. Nifty opened with a gap up and once above 11843 reached our target of 11884 near our target of 11912, We have still not broken the Mercury Ingress High of 11912, Positional Long should be taken above 11912 only. Fresh shorts should be taken below 11821 for a move back to 11775/11730/11666/11610. Long should be taken above 11912 for a move towards 11993/12047/12102. We have Solar Eclipse tomorrow be cautious in trading.

  • Nifty July Future Open Interest Volume is at 1.85 core with addition  of 1.15 Lakh with  increase in  cost of carry suggesting short position were added today, NF Rollover cost @11841 closed above it.
  • Total Future & Option trading volume at 5.91 Lakh core with total contract traded at 0.84 lakh , PCR @0.94
  • 12000 CE  is having Highest OI  at 14.5 Lakh, resistance at 12000 followed by 12100 .11500-12000 CE added 0.94 Lakh in OI so bears added position in range of 11800-12000.FII sold 1 K CE long and 3.3 K shorted CE were covered  by them. Retail bought 28.9K CE and 28.4 K CE were shorted by them.
  • 11600 PE OI@9.5 Lakhs having the highest OI strong support at 11600 followed by 11550 . 11000-11700 PE added 4.1 Lakh in OI so bulls added position in range 11500-11600.FII bought 9.9 K PE long and 943 PE were shorted by them. Retail bought 123 K PE and 100 K PE were shorted by them.

Buy above 11884  Tgt 11912,11943 and 11977  (Nifty Spot Levels)

Sell below 11821 Tgt 11800,11775 and 11748  (Nifty Spot Levels)

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