Nifty Bulls fails to close above 9910,pullback on cards

  • FII’s sold 4 K contract of Index Future worth 252 cores ,238 Long contract were added by FII’s and 4.2 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 enter long and enter short in  Index futures. FII’s Long to Short Ratio at 1.13,For the August Series FII have net added shorts 123 K Contract till we do not close above 9910 all rallies will get sold into.  How to Maintain Control and Discipline in Your Trading 
  • As discussed in last analysis    Now as we closed near the major gann angle so bulls need a close above 9910 for next round of up move towards 9962/10025/10090. Bearish below 9855 for a move towards 9800/9740.17 Aug is again a time cycle date so expect volatility in market. Nifty bulls lost the battle in last 1 hour as they were unable to protect 9910 on the time cycle date of 17 Aug suggesting 9947 can act as short term top. Bears will get further momentum below 9855 for  fast move towards 9770/9680/9620. Bullish above 9950 for a move towards 9962/10025/10090.   Bank Nifty Bulls fails at 24476 again,EOD Analysis

  • Nifty August Future Open Interest Volume is at 2.49 core with addition of 13.9 Lakh with decrease in  cost of carry suggesting short position were added today, NF Rollover cost @10036  Closed below it and corrected 300 points.
  • Total Future & Option trading volume at 11.4 Lakh core with total contract traded at 1.1 lakh , PCR @0.82
  • 10000  CE  is having Highest OI  at 53.6  lakh, resistance at 9900 followed by 10000 .9800-10500 CE added 1.6 Lakh in OI so bears added partial position  in range of 9800-10000 CE. FII bought 1 K CE longs and 9 K  CE were shorted by them.Retail sold 59 K CE contracts and 37 K shorted CE were covered by them.
  • 9800 PE OI@64.1 lakhs having the highest OI strong support at 9800 followed by 9750. 9500-10000 PE added 22 Lakh in OI so bulls added position in 9500-9800 PE. FII bought 5.9 K PE and 2.8 K PE were shorted by them. Retail sold 59.5 K PE and 54 K PE were shorted by them
  • FII’s sold 981 cores  and DII’s bought 828 cores in cash segment.INR closed at 64.14

Buy above 9911  Tgt 9940,9975 and 10000 (Nifty Spot Levels)

Sell below 9875 Tgt 9850,9820 and 9780 (Nifty Spot Levels)

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