Nifty range trade continues,EOD Analysis

  • FII’s sold 1.6 K contract of Index Future worth 107 cores ,1.5 K Long contract were added by FII’s and 3.1 K  Short contracts were added by FII’s. Net Open Interest increased  by 4.6 K contract, so fall in market was used by FII’s to enter long and enter short in  Index futures. FII’s Long to Short Ratio at 1.7. Build up your confidence as a trader
  • As discussed in last analysis   Breakout above 10030 for a move towards 10090/10150/10237. Bearish below 9840 for a move towards 9740/9685. Next 2 days are very crucial as per time cycle, Hopefully we can see breakout/breakdown soon. High made today was 9964 and low made was 9917 so nifty continue to stuck in between 2 gann angles and again trading near the higher end, till we trade in range of 10000-9840 ping pong continues. Breakout above 10030 for a move towards 10090/10150/10237. Bearish below 9840 for a move towards 9740/9685.  Bank Nifty Continue the ping pong move,EOD Analysis

  • Nifty September Future Open Interest Volume is at 1.91 core with addition of 1.3 Lakh with decrease in  cost of carry suggesting short position were closed today, NF Rollover cost @9910 Closed above it.
  • Total Future & Option trading volume at 8.54 Lakh core with total contract traded at 0.65 lakh , PCR @0.97
  • 10000 CE  is having Highest OI  at 47.1 lakh, resistance at 10000 followed by 10200 .9500-10500 CE added 6 Lakh in OI so bears added major position  in range of 9900-10000 CE. FII bought 753 CE longs and 330 shorted CE were covered by them.Retail sold 86.8 K CE contracts and 64.9 K  CE were shorted by them.
  • 9700 PE OI@50.4 lakhs having the highest OI strong support at 9700 followed by 9800. 9500-10500 PE added  20 Lakh in OI so bulls added position in 9500-9800 PE. FII bought 9.9 K  PE and 5.9 K PE were shorted by them. Retail sold 60.8 K PE and 59.2 K shorted PE were covered by them
  • FII’s sold 564 cores  and DII’s bought 245 cores in cash segment.INR closed at 64.11

Buy above 9940  Tgt 9960,9986 and 10030 (Nifty Spot Levels)

Sell below 9910 Tgt 9890,9860 and 9824 (Nifty Spot Levels)

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