Nifty ready for Big Move

By | July 27, 2019

  • FII’s sold 13.7 K contract of Index Future worth 1049 cores 3.9 K Long contract were liquidated by FII’s and 9.7 K Short contracts were added by FII’s. Net Open Interest increased  by 5.8  K contract, so rise  in Nifty was used by FII’s to exit long and enter short in  Index futures.FII’s Long to Short Ratio at 0.60
  • As Discussed in Last Analysis Bulls now need a close above 11301 for a move back to 11355/11400. Bears will get active below 11226 for a move back to 11166/11108. Bears got whipsawed again below 11226 and Bulls also got whipsawed above 11301. Time Cycle suggests big move round the corner. Bulls now need a close above 11301 for a move back to 11355/11400. Bears will get active below 11226 for a move back to 11166/11108.

  • Total Future & Option trading volume at 7.07  Lakh core with total contract traded at 1.16 lakh , PCR @0.89
  • 11500 CE  is having Highest OI  at 11.9 Lakh, resistance at 11400 followed by 11500 .11300-11400 CE added 10 Lakh in OI so bears added position in range of 11400-11500.FII bought 14.6 K CE and 2.7 K CE were shorted by them. Retail bought 69.4 K CE and 78.4 K CE were shorted by them.
  • 11200 PE OI@21 Lakhs having the highest OI strong support at 11200 followed by 11300 . 11200-11400 PE added 4.8 Lakh in OI so bulls covered position in range 11200-11300.FII bought 10.1 K PE and 9.3 K PE were shorted by them. Retail bought 146 K PE and 122 K PE were shorted by them.
  • Nifty Aug Future Open Interest Volume is at 1.68 core with liquidation of 2.6 Lakh with  increase in  cost of carry suggesting long position were added today, NF Rollover cost @11355 closed below it.
  • FII’s  sold 1503 cores and DII’s bought 1917 ores in cash segment.INR closed at 68.98

Buy above 11300 Tgt 11323,11351 and 11377 (Nifty Spot Levels)

Sell below 11260 Tgt 11233,11210 and 11170 (Nifty Spot Levels)

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