Nifty make fresh life high, holding 10030

  • FII’s sold 2.2 K contract of Index Future worth 197 cores ,1.4 K Long contract were added by FII’s and 3.6 K Short contracts were added by FII’s. Net Open Interest increased  by 5.1 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 1.35. Daring greatly requires worthiness
  • As discussed in last analysis   Nifty made another failed attempt to make new high as high made was 10127 but still 10030 was held as price is near gann angle for last few days big move is on the cards. till we are holding 10030 another attempt will be made towards new life highs and ultimate move towards 10250 which is an important gann resistance,  Bearish below 10030 for a move towards 9970/9930/9870. So Finally we crossed the new life high with a gap up, Today’s High of 10170 is very important as its an important gann number, Bulls if are able to do weekly close above it can rally the index towards 10236/10271/10372/10577 before Diwali. Close below 10100 can see move back till 9800-9770.    Bank Nifty Bounces above 25000, Holding Gann Level

  • Nifty September Future Open Interest Volume is at 2.04 core with addition of 1 Lakh with decrease in  cost of carry suggesting short position were added today, NF Rollover cost @9910 Closed above it and rallied 250 points.
  • Total Future & Option trading volume at 4 Lakh core with total contract traded at 0.73 lakh , PCR @1.26
  • 10200 CE  is having Highest OI  at 53.9 Lakh, resistance at 10200 followed by 10100 .9500-10500 CE liquidated 7 Lakh in OI so bears covered major position  in range of 10100-10200 CE. FII bought 2.2 K  CE and 7.1 K CE were shorted by them. Retail bought 8 K CE and 6.1 K CE were shorted by them
  • 10000 PE OI@61.7 lakhs having the highest OI strong support at 10000 followed by 9900. 9900-10500 PE added 25.9Lakh in OI so bulls added position in 9900-10300 PE,making strong base at 9900. FII sold 1.8 K  PE and 8.7 K PE were shorted by them. Retail bought 53.6 K PE and 31.4 K PE were shorted by them
  • FII’s sold 96 cores  and DII’s bought 775 cores in cash segment.INR closed at 64.08

Buy above 10172  Tgt 10192,10213 and 10240 (Nifty Spot Levels)

Sell below 10130 Tgt 10110,10090 and 10060 (Nifty Spot Levels)

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