Nifty Technical set up before No Confidence motion trust vote

By | July 19, 2018 10:32 pm

  • FII’s bought 12.8 K contract of Index Future worth 1079 cores ,9.1 K Long contract were added by FII’s and 3.7 Short contracts were covered by FII’s. Net Open Interest increased  by 5.3 K contract, so fall in market was used by FII’s to enter long and exit short in  Index futures.  FII’s Long to Short Ratio at 1.28. Money Management Matters In Trading

 

  • As Discussed in Last Analysis  We have political uncertainty also emerging with No Trust vote coming for government on Friday also today was an important time cycle date, Break of today high and low can see easily 100-150 points.Bullish above 11025 for a move back towards 11060/11126/11216. Bearish below 10920 for a move back to 10876/10812. 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.Important intraday time for reversal can be at 1:28/2:29. Bank Nifty Technical set up before No Confidence motion trust vote

  • Nifty July Future Open Interest Volume is at 2.38 core with liquidation of 6.2 Lakh with increase in  cost of carry suggesting short position were added today, NF Rollover cost @10720 closed above it.
  • 11100 CE  is having Highest OI  at 43 Lakh, resistance at 11100 followed by 11200 .10500-11000 CE added 7.9 lakh in OI so bears  added position in range of 10800-11000 CE. FII sold 7.5 K CE and 7.6 K  shorted CE were covered by them. Retail sold 96.2 K CE and 56.2 K shorted CE were covered by them.

 

  • 10800 PE OI@46.2 lakhs having the highest OI strong support at 10800 followed by 10700 . 10500-11000 PE added 19.5 Lakh in OI so bulls added position in range 10700-10900 PE. FII bought 32 K CE and 9.9 K PE were shorted by them. Retail sold 81.3 K PE and 50.3 K shorted PE were covered by them.
  • Total Future & Option trading volume at 18.20 Lakh core with total contract traded at 1.05 lakh , PCR @1.05

 

  • FII’s sold 315 cores  and DII’s bought 470 cores in cash segment.INR closed at 69.06

 

Buy above 10970 Tgt 11001,11037 and 11052 (Nifty Spot Levels)

Sell below 10950 Tgt 10930,10900 and 10885 (Nifty Spot Levels)

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Category: Daily

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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