Nifty does Price Time Squaring

By | August 2, 2019

  • FII’s sold 24.6 K contract of Index Future worth 2048 cores. 3.1 K Long contract were liquidated by FII’s and 21.4 K Short contract were added by FII’s and 21.4K short were added by FII’s. Net Open Intreaset Increase by .FII LOng to Short Ratio 0.39
  • As Discussed in Last Analysis   Nifty has bounced from 11008 demand zone as shown in below chart and now we should hold 11080-11090 range for rally to continue till 11230/11300. Bears will get active below 11070 for a move towards 11000/10951. 02 Aug is important time cycle date, 10951 done below 11070 , and we came near the gann angle. 02 Aug is important time cycle date so we can do price time squaring if we close above 11000 tomorrow. Bulls need a close above 11000 for a move towards 11076/11144/11230.. Bears will get active below 10951  for a move back to 10981/10920.

  • Total Future & Option trading volume at 27  Lakh core with total contract traded at 1.99 lakh , PCR @0.73
  • 11500 CE  is having Highest OI  at 19.8 Lakh, resistance at 11400 followed by 11500 .11000-11400 CE added 20 Lakh in OI so bears added position in range of 11200-11500.
  • 10800  PE OI@33.4Lakhs having the highest OI strong support at 10800 followed by 10700 . 10800-11400 PE liquidated 14 Lakh in OI so bulls covered position in range 11000-11100.
  • Nifty Aug Future Open Interest Volume is at 1.76 core with addition  of 3.1 Lakh with  decrease in  cost of carry suggesting short position were closed today, NF Rollover cost @11355 closed below it.
  • FII’s  sold 1056 cores and DII’s bought 561ores in cash segment.INR closed at 69.07

Buy above 11000 Tgt 11038,11076 and 11111 (Nifty Spot Levels)

Sell below 10951 Tgt 10920,10880 and 10850 (Nifty Spot Levels)

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