Nifty ready for big move,EOD Analysis

  • FII’s sold 17.1 K contract of Index Future worth 1286 cores ,6.3 K Long contract were liquidated by FII’s and 10.8 K Short contracts were added by FII’s. Net Open Interest increased  by 4.5 K contract, so rise in market was used by FII’s to exit long and enter  short in  Index futures. FII’s Long to Short Ratio at 2.2  Trading Wisdom by Larry Hite & Marty Schwartz

 

  • As discussed in last analysis Bulls need close above 9790 for next move towards 9830/9869. Bearish below 9610 for move towards 9570/9520. Nifty made a fresh life high of 9830 exactly the level we discussed yesterday but failed to close above 9790, 9830 is very important level as its gann angle resistance of the line where market formed a small top and corrected 250 points, so if 9830 is not broken for this week we can see correction till 9700/9645/9610. High made today was 9825 so still we are not able to break 9830 but today close was above 9790 which is mildly bullish, and if we break 9830 than we can again see a fast rise towards Bullish above 9830 for next move towards 9890/9966/10000. Bearish below 9610 only. As per time cycle till 9787 is held bulls can push nifty towards the scarocant figure of 10000 by 30 July. Bank Nifty ready to move towards 24000,EOD Analysis

  • Nifty July Future Open Interest Volume is at 2.08 core with addition of 4 Lakh with increase in  cost of carry suggesting long position were added today, NF Rollover cost @9559 Closed above it, and rallied 200 points.
  • Total Future & Option trading volume at 5.54 Lakh core with total contract traded at 0.91 lakh , PCR @1.03
  • 10000  CE  is having Highest OI  at 43  lakh, resistance at 10000 followed by 9900 .9400-10000 CE liquidated 0.91Lakh in OI so bears covered position in 9700-9800 CE  FII bought 22.2 K CE longs and 6.2 K CE were shorted by them.Retail bought 3 K CE contracts and 15.9 K  CE were shorted  by them.
  • 9600 PE OI@67 lakhs having the highest OI strong support at 9600 followed by 9500. 9400-10000 PE added 7.3 Lakh in OI so bulls added position in 9500-9600 PE . FII bought 20.2 K PE and 40.1 K PE were shorted by them. Retail bought 81.6 K PE and 34 K PE were shorted by them
  • FII’s bought 361 cores in Equity and DII’s sold 330 cores in cash segment.INR closed at 64.54

Buy above 9830 Tgt 9850,9868 and 9900 (Nifty Spot Levels)

Sell below 9810 Tgt 9795,9780 and 9750 (Nifty Spot Levels)

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