Nifty give big move,EOD Analysis

By | July 18, 2019

  • FII’s bought 16.5 K contract of Index Future worth 1367 cores 8.4 K Long contract were added by FII’s and 8 K Short contracts were covered  by FII’s. Net Open Interest increased  by 371  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 1.08.
  • As Discussed in Last Analysis Nifty should see another big move in next 2 session. Till we are above 11625 bulls have upper hand can push towards 11721-11730 range where next major resistance lies. Bears will become active below 11625 again for a move towards 11570/11531/11461. We saw big move as per expectation and below  11625 bears did low of 11582. Tomorrow is important astro date. Bears will become active below 11570 for a move back to 11512/11460. Bulls will become active above 11625 for a move back to 11666/11731

  • Nifty July Future Open Interest Volume is at 1.55 core with liquidation of 0.51Lakh with  increase in  cost of carry suggesting short position were added today, NF Rollover cost @11841 closed below it.
  • Total Future & Option trading volume at 19.47 Lakh core with total contract traded at 1.01lakh , PCR @0.81
  • 12000 CE  is having Highest OI  at 34.7 Lakh, resistance at 11700 followed by 11800 .11500-12000 CE added 37 Lakh in OI so bears added position in range of 11700-12000.
  • 11500 PE OI@224.6 Lakhs having the highest OI strong support at 11500 followed by 11400 . 11000-11700 PE added 132.5 Lakh in OI so bulls added position in range 11500-11600.

Buy above 11620 Tgt 11645,11676 and 11700 (Nifty Spot Levels)

Sell below 11582 Tgt 11560,11531 and 11500 (Nifty Spot Levels)

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