Nifty Post Budget Day Analysis

By | July 6, 2019

  • FII’s sold 7.6 K contract of Index Future worth 672 cores 83 Long contract were added by FII’s and 7.6 K  Short contracts were added  by FII’s. Net Open Interest increased  by 7.7 K contract, so fal in Nifty was used by FII’s to exit long and enter short in  Index futures.FII’s Long to Short Ratio at 1.37 How Comfortable you are with your trading ?
  • As Discussed in Last Analysis Bulls need to move above 11993 for a move towards 12043/12100. Bears will get active below 11883 for a move back to 11830/1175/11750/11700. Harmonic Study worked perfectly as High made was 11981 and we almost reached our 1 target of 11775 as low made was 11798. Now Bulls need to close above 11850 for a move back to 11923/11993/12040. Bears will become active below 11763 for a move back to 11710/11666/11610.08 Jul is important time cycle date.

  • Nifty July Future Open Interest Volume is at 1.80 core with addition  of 1.34 Lakh with  decrease in  cost of carry suggesting short position were closed today, NF Rollover cost @11841 closed below it.
  • Total Future & Option trading volume at 10.46 Lakh core with total contract traded at 1.85 lakh , PCR @0.79
  • 12000 CE  is having Highest OI  at 23.1 Lakh, resistance at 12000 followed by 12100 .11500-12000 CE added 8.9  Lakh in OI so bears added position in range of 11900-12000..FII bought 7.6 K CE long and 10.8 K CE were shorted by them. Retail bought 249 K CE and 170  K CE were shorted by them.
  • 11500 PE OI@16 Lakhs having the highest OI strong support at 11600 followed by 11550 . 11000-11700 PE added 1.34 Lakh in OI so bulls added position in range 11700-11800.FII bought 17.3 K PE long and 13.7 K PE were shorted by them. Retail bought 101 K PE and 106 K PE were shorted by them.

Buy above 11848 Tgt 11871,11898 and 11926 (Nifty Spot Levels)

Sell below 11795 Tgt 11765,11743 and 11710  (Nifty Spot Levels)

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