Nifty Ready for Big Move

By | July 13, 2019

  • FII’s bought 2.4 K contract of Index Future worth 170 cores 2.3 K Long contract were added by FII’s and 143  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 0.96  How Comfortable you are with your trading ?
  • As Discussed in Last Analysis Till we are holding 11520 we can rally towards 11666/11720. Big Resistance in zone of 11730-11743. Bears will become active below 11512 for a move back to 11461/11410. As per time cycle break of today high and low can easily give 75-100 points. Low made was 11538 so bulls protected 11512 and high made was 11640,so we were able to achieve another target on upside.Nifty Bulls will again get active above 11610 for a move back to 11666/11730. Bears will become active below 11512 for a move back to 11461/11410.As per time cycle good move should be seen in nifty in coming 2 sessions.

  • Nifty July Future Open Interest Volume is at 1.69 core with liquidation of 6.3 Lakh with  decrease in  cost of carry suggesting long position were closed today, NF Rollover cost @11841 closed below it.
  • Total Future & Option trading volume at 7.56 Lakh core with total contract traded at 1.16 lakh , PCR @0.87
  • 12000 CE  is having Highest OI  at 32 Lakh, resistance at 11700 followed by 11800 .11500-12000 CE added 7.5 Lakh in OI so bears added position in range of 11700-12000. FII bought 19.7 K CE long and 7.7 K CE were shorted by them. Retail bought 103 K CE and 107 K CE were shorted by them.
  • 11500 PE OI@17.6 Lakhs having the highest OI strong support at 11500 followed by 11400 . 11000-11700 PE liquidated 0.77 Lakh in OI so bulls covered position in range 11500-11600. FII bought 7.2 K PE long and 6.8 K PE were shorted by them. Retail bought 5.2  K PE and 44.2 K PE were shorted by them.

Buy above 11577 Tgt 11600,11625 and 11650 (Nifty Spot Levels)

Sell below 11538 Tgt 11512,11485 and 11460 (Nifty Spot Levels)

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