Will Nifty Bulls break Gann Resistance of 10090 ?

  • FII’s sold 5.6 K contract of Index Future worth 425 cores ,2 K Long contract were added by FII’s and 7.6 K Short contracts were added by FII’s. Net Open Interest increased  by 9.6 K contract, so fall in market was used by FII’s to enter long and enter short in  Index futures. FII’s Long to Short Ratio at 2.5, FII’s have been adding consistent shorts before the RBI policy Someone to Watch Over Me

 

  • As discussed in last analysis   Fresh long above 10090 for a move towards 10250-10410 for August Series. Nifty broke 10000 made low of 9944 but failed to do target of 9930 and closed above 10000, Now fresh long should be taken above 10090 for a move towards 10250-10410 .Shorts below 9930 for a move towards 9860/9810/9750. In Between it will be trading range of 9930-10090 till RBI Policy on 02 August. High made today was 10086 and low made was 10016 so nifty continue to trade in our range of 9930-10090 before RBI Policy, New Time cycle started today so bulls should hold 10000 for bullish move to continue, break of 10000 bears will become active and push nifty towards 9930/9850.Now fresh long should be taken above 10090 for a move towards 10250-10410   Bank Nifty Corrects from Gann Angle,EOD Analysis

  • Nifty August Future Open Interest Volume is at 2 core with addition of 6.2 Lakh with increase in  cost of carry suggesting long position were added today, NF Rollover cost @10036  Closed above it. Low made today was 10038 and rallied 90 points.
  • Total Future & Option trading volume at 3.38 Lakh core with total contract traded at 0.68 lakh , PCR @0.90
  • 10500  CE  is having Highest OI  at 33.1 lakh, resistance at 10500 followed by 10300 .9800-10500 CE liquidated 1.7 Lakh in OI so bears liquidated in range of 10200-10500 CE. FII bought 6.4 K CE longs and 4.6 K CE were shorted by them.Retail bought 618 CE contracts and 8.4 K CE were shorted by them.
  • 10000 PE OI@43.5 lakhs having the highest OI strong support at 9800 followed by 9900. 9800-10500 PE added 2.2 Lakh in OI so bulls again added position in 9900-9800 PE. FII bought 19.8 K PE and 6.3 K PE were shorted by them. Retail bought 46.4 K PE and 37 K PE were shorted by them
  • FII’s sold 1196 cores in Equity and DII’s bought 1768 ores in cash segment.INR closed at 64.18

Buy above 10090 Tgt 10105,10128 and 10155(Nifty Spot Levels)

Sell below 10055 Tgt 10035,10016 and 9991(Nifty Spot Levels)

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