Nifty Analysis before RBI Policy

By | August 6, 2019

  • FII’s sold 7.8 K contract of Index Future worth 541 cores. 2.6 K Long contract were liquidated by FII’s and 5.2 K Short contract were added by FII’s. Net Open Interest Increase by 2.5 K .FII Long to Short Ratio 0.35.
  • As Discussed in Last Analysis  Till we are below 10890 bears have upper hand. Shorts can be taken below 10815 for a move back to 10776/10714/10662. Bulls will get active above 10900 for a move back to 10990/11043/11095. Bulls were on rampage did 10990 above 10900  as we bounced from gann angle. Bulls now need a close above 10990 for a move back to 11043/11095/11148. Bears will get chance below 10886 for a move back to 10834/10782/10743.

  • Total Future & Option trading volume at 9.66 Lakh core with total contract traded at 1.87 lakh , PCR @0.85
  • Nifty Aug Future Open Interest Volume is at 1.87 core with liquidation of 11 Lakh with  decrease in  cost of carry suggesting short position were closed today, NF Rollover cost @11355 closed below it.
  • 11000 CE  is having Highest OI  at 22.2 Lakh, resistance at 11000 followed by 11100 .10800-11400 CE liquidated 2 Lakh in OI so bears covered position in range of 11000-11500.FII  bought 11.8 K CE options and 5.4 K CE options were shorted by them. Retail sold 51.2 K CE options and 18.6 K shorted CE options were covered by them.
  • 10800  PE OI@18.3 Lakhs having the highest OI strong support at 10800 followed by 10700 . 10800-11400 PE added 1.6 Lakh in OI so bulls added position in range 10800-11100.FII  bought 8.1 K PE options and 4.6 K PE options were shorted by them. Retail bought 125 K PE options and 83.4 K PE options were shorted by them.
  • FII’s  sold 2017 cores and DII’s bought 2289 cores in cash segment.INR closed at 70.82

Buy above 10970 Tgt 10990,11039 and 11095 (Nifty Spot Levels)

Sell below 10910 Tgt 10886,10843 and 10810 (Nifty Spot Levels)

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