Nifty forms NR7 Pattern

By | August 20, 2019

  • FII sold 1.8 K contract of Index Future worth 72 cores, Net OI has decreased by 4.9 K contract, 3.4 K Long contract were covered by FII and 1.5 K short were added by FII. Net FII Long Short ratio at 0.37, So FII used rise to exit both longs and shorts.
  • As Discussed in Last Analysis  Nifty Bulls need to close above 11020 for a move back to 11079/11156. Nifty has formed an NR7 pattern today suggesting range expansion round the corner,added with time cycle. Nifty Bulls will get active above 11080 for a move back to 111146/11200/11260. Bears will get active below 11030 for a move back to 210970/10910.

  • Total Future & Option trading volume at 9.8 Lakh core with total contract traded at 1.31lakh , PCR @0.96
  • Nifty Aug Future Open Interest Volume is at 1.78 core with liquidation of 3.7 Lakh with  decrease in  cost of carry suggesting short position were added today, NF Rollover cost @11355 closed below it.
  • 11000 CE  is having Highest OI  at 25.6 Lakh, resistance at 11000 followed by 11100 .10800-11400 CE added 12.8 Lakh in OI so bears added position in range of 11000-11200. FII sold 3 K CE and 8.7 K CE were shorted by them,Retail bought 126 K CE and 59.9 K CE were shorted by them.
  • 10700  PE OI@23.1 Lakhs having the highest OI strong support at 10700 followed by 10800 . 10800-11400 PE liquidated 3.2 Lakh in OI so bulls covered position in range 10800-11100. FII bought 6 K PE and 6.4 K PE were shorted by them,Retail bought 29 K PE and 42.4 K PE were shorted by them.
  • FII’s  sold 305  cores and DII’s bought 386 cores in cash segment.INR closed at 71.42

Buy above 11080 Tgt 11111,11140 and 11170 (Nifty Spot Levels)

Sell below 11035 Tgt 11012,10980 and 10950  (Nifty Spot Levels)

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