Nifty trading set up amid geopolitical tensions

  • FII’s sold 7.2 K contract of Index Future worth 469 cores ,4.4 K Long contract were added by FII’s and 11.6 K  Short contracts were added by FII’s. Net Open Interest increased  by 16 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 2. Overcoming Emotions As A Day Trader
  • As discussed in last analysis   Also price is stuck in 2 gann angles, suggesting explosive move round the corner. Long in September series should be taken above 9950 for a move towards 10090/10150/10280. Bearish below 9850 for a move towards 9770/9685/9610. Range of 10026-10030 is very important range close above it we can quickly rally till 10090/10157/10235. Bearish below 9900 for a move towards 9820/9770/9710. Nifty bulls got stopped out as price went below 9950 and bears also got stopped out as price break 9900 but failed to do 9820 as low made was 9861. As seen in below gann angle chart, price is struck in 2 gann angles trading from higher end towards lower end. Breakout above higher end of gann angle above 10000 breakdown below the lower end at 9840, in between it will trade between the range, Breakout above 10030 for a move towards 10090/10150/10237. Bearish below 9840 for a move towards 9740/9685. Bank Nifty trading set up amid geopolitical tensions

  • Nifty September Future Open Interest Volume is at 1.74  core with addition of 5.4 Lakh with decrease in  cost of carry suggesting short position were added today, NF Rollover cost @9910 Closed above it.
  • Total Future & Option trading volume at 4.69 Lakh core with total contract traded at 1.31 lakh , PCR @1.09
  • 10000 CE  is having Highest OI  at 44 lakh, resistance at 10000 followed by 10200 .9500-10500 CE added 18.6 Lakh in OI so bears added major position  in range of 10200-10500 CE. FII bought 1.7 K CE longs and 4.2 K CE were shorted by them.Retail bought 93 K CE contracts and 60.5 K  CE were shorted by them.
  • 9700 PE OI@44.6 lakhs having the highest OI strong support at 9700 followed by 9800. 9500-10500 PE added  4.6 Lakh in OI so bulls added position in 9500-9800 PE. FII bought 15.9 K  PE and 580 PE were shorted by them. Retail bought 10.4 K PE and 26.2 K PE were shorted by them
  • FII’s sold 873 cores  and DII’s bought 49 cores in cash segment.INR closed at 64.05

Buy above 9922  Tgt 9950,9980 and 10020 (Nifty Spot Levels)

Sell below 9900 Tgt 9975,9855 and 9854 (Nifty Spot Levels)

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