Nifty bounce back holding time cycle low of 10000

  • FII’s bought 3.3 K contract of Index Future worth 286 cores ,1.9 K Long contract were added by FII’s and 5.3 K Short contracts were added by FII’s. Net Open Interest increased  by 7.3 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 1.8.  What not to do in Bull Market
  • As discussed in last analysis   Low made today was 9998 so bulls continue to hold on to 10000, Also as per our time cycle analysis we got the big move. Bears need to break the time cycle low of 10000 for a move towards 9930.Bulls need close above 10090 for a move towards 10180/10250/10400. Nifty made low of 9988 and high of 10075 so bulls were not able to break 10090 and bears again failed to close below the time cycle low of 10000, suggesting the bounce back which we have seen on Friday can be sold off if we do not close above 10090. 07 Aug is last day for bears to close below 10000, after that we will see new cycle coming up till 22 AUg.    Bank Nifty bounces from Gann Support Level,EOD Analysis

  • Nifty August Future Open Interest Volume is at 2.14 core with liquidation of 2.9 Lakh with increase in  cost of carry suggesting Short position were added today, NF Rollover cost @10036  Closed above it.
  • Total Future & Option trading volume at 4.47 Lakh core with total contract traded at 1 lakh , PCR @0.97
  • 10500  CE  is having Highest OI  at 38.2 lakh, resistance at 10500 followed by 10300 .9800-10500 CE liquidated 15.6 Lakh in OI so bears covered  in range of 10200-10000 CE. FII bought 3.9 K CE longs and 1.9 K CE were shorted by them.Retail bought 13.4 K CE contracts and 14.1 K CE were shorted by them.
  • 10000 PE OI@52 lakhs having the highest OI strong support at 9900 followed by 10000. 9800-10500 PE added 12.6 Lakh in OI so bulls added position in 9900-10000 PE. FII bought 12.4 K PE and 3.5 K PE were shorted by them. Retail bought 53.6 K PE and 33 K PE were shorted by them
  • FII’s sold 854 cores in Equity and DII’s bought 1017 ores in cash segment.INR closed at 63.58

Buy above 10075 Tgt 10100,10130 and 10150(Nifty Spot Levels)

Sell below 10040 Tgt 10015,9985 and 9950 (Nifty Spot Levels)

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