Nifty corrects from gann angle,EOD Analysis

  • FII’s bought 2.4 K contract of Index Future worth 241 cores ,8 K Long contract were added by FII’s and 5.6 K  Short contracts were added by FII’s. Net Open Interest decreased  by 1 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 1.04,For the August Series FII have net added shorts 133 K Contract till we do not close above 9910 all rallies will get sold into.Today’s close just above 9911, market in dilemma  Overcoming Emotions As A Day Trader
  • As discussed in last analysis    As new Time cycle is starting from Monday so till 9911 is not broken bears will have upper hand can push index towards 9770/9683/9610, bulls will get active above 9950 for a move towards 10025/10090/10150. Nifty closed at 9912 so fight is on for 9911 levels. Long should be done above 9950 for a move towards 10025/10090/10150. Bearish below 9880 for a move towards 9820/9770/9730. High made today was 9887 and as soon as 9880 broken bears did the target of 9820 and missed the 9783 by 13 points. Longs above 9950 only, More shorts can be added below 9740 for a move towards 9642. Nifty again fell from gann angle resistance zone as shown in below charts.  Will Bank Nifty Bulls break 24480,EOD Analysis

  • Nifty August Future Open Interest Volume is at 1.98  core with liquidation of 28.5 Lakh with decrease in  cost of carry suggesting short position were closed today, NF Rollover cost @10036  Closed below it.
  • Total Future & Option trading volume at 4.8 Lakh core with total contract traded at 1.59 lakh , PCR @0.94
  • 9900 CE  is having Highest OI  at 59.6  lakh, resistance at 9900 followed by 10000 .9500-10000 CE added 50 Lakh in OI so bears added major position  in range of 9800-9900 CE. FII sold 13.6 K CE longs and 2.7 K shorted CE were covered by them.Retail bought 110 K CE contracts and 33.1 K CE were shorted by them.
  • 9800 PE OI@55.3 lakhs having the highest OI strong support at 9800 followed by 9700. 9500-10000 PE liquidated 51 Lakh in OI so bulls covered position in 9500-9800 PE. FII sold 6.7 K  PE and 5.1 K shorted PE were covered by them. Retail sold 41.6 K PE and 11.1 K shorted PE were covered  by them
  • FII’s sold 1459 cores  and DII’s bought 1391 cores in cash segment.INR closed at 64.02

Buy above 9822  Tgt 9840,9861 and 9887 (Nifty Spot Levels)

Sell below 9780 Tgt 9760,9740 and 9710 (Nifty Spot Levels)

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