Nifty continue to trade in range,Big move round the corner

  • FII’s sold 11.3 K contract of Index Future worth 985 cores ,3 K Long contract were added by FII’s and 14.3 K Short contracts were added by FII’s. Net Open Interest increased  by 17.4 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 1.17. Money Management Matters In Trading

 

  • As Discussed in Last Analysis   High made today was 11006 so bulls unable to break 11025 and low made was 10935 so 10920 was also protected and we traded in between the range.Expect volatile move tommrow as we will have voting for no trust vote. Bullish above 11025 for a move back towards 11060/11126/11216. Bearish below 10920 for a move back to 10876/10812. Nifty traded in the range as high made was 11030 and low was 10946 so we continue with range contraction.We should see a good move in next 2 days as per time cycle, Bullish above 11025 for a move back to 11088/11126/11172. Bearish below 10920 for a move back to 10876/10812. Important intraday time for reversal can be at 1:12/2:32. Bank Nifty Technical set up before No Confidence motion trust vote

  • Nifty July Future Open Interest Volume is at 2.40 core with addition of 2 Lakh withdecrease in  cost of carry suggesting short position were covered today, NF Rollover cost @10720 closed above it.
  • 11100 CE  is having Highest OI  at 37.8 Lakh, resistance at 11100 followed by 11200 .10500-11200 CE added 9.6lakh in OI so bears  covered  position in range of 10800-11000 CE. FII bought 586 CE and 1.1 K  CE were shorted by them. Retail bought 9.5 K CE and 13.5 K CE were shorted by them.

 

  • 10800 PE OI@47.7 lakhs having the highest OI strong support at 10800 followed by 10700 . 10500-11200 PE added 15.7 Lakh in OI so bulls added position in range 10700-10900 PE. FII bought 3.7 K CE and 6.6K PE were shorted by them. Retail bought 46.2 K PE and 46.8 K shorted PE were covered by them.
  • Total Future & Option trading volume at 5.24 Lakh core with total contract traded at 0.97 lakh , PCR @0.89

 

  • FII’s bought 310 cores  and DII’s sold 50 cores in cash segment.INR closed at 68.85

 

Buy above 11030 Tgt 11045,11060and 11111 (Nifty Spot Levels)

Sell below 10990 Tgt 10960,10940 and 10920 (Nifty Spot Levels)

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