Nifty hits gann angle resistance ahead of RBI Policy

  • FII’s bought 1 K contract of Index Future worth 242 cores ,3.9 K  Long contract were added by FII’s and27.8 K Short contracts were added by FII’s. Net Open Interest increased  by 6.7 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 1.40. Dealing with Loss Aversion in Trading
  • As Discussed in Last Analysis High made today was 11328 so bulls continue to hold 11230 and now heading  towards 11343/11396/ till we are holding 11230. Bulls need to start getting cautious as we are approaching the zone of resistance of 11376-11400 , where we can see profit booking. Bearish below 11230 only for a move back to 11185/11125/11060. High made today was 11366 at gann angle resistance bulls should book out and tighten SL to 11250 Bulls need to start getting cautious as we are approaching the zone of resistance of 11376-11400 , where we can see profit booking. Bearish below 11230 only for a move back to 11185/11125/11060.Beauty of gann analysis is shown below perfect move from 1 gann angle to another. Important intraday time for reversal can be at 12:31/2:40. Bank Nifty forms Inside bar pattern,EOD Analysis
  • Nifty Aug Future Open Interest Volume is at 2.50 core with addition of 12.4 Lakh with decrease in  cost of carry suggesting long position were covered today, NF Rollover cost @11149 closed above it.
  • 11500 CE  is having Highest OI  at 27.88 Lakh, resistance at 11400 followed by 11500 .10500-11500 CE added 4 lakh in OI so bears  added position in range of 11400-11500 CE. FII bought 2.9  K CE and 6 K  CE were shorted by them. Retail bought 30.6 K CE and 32.6 K CE were shorted by them.

 

  • 11000 PE OI@47.2 lakhs having the highest OI strong support at 11100 followed by 11000 . 10500-11500 PE added 22.2 Lakh in OI so bulls added position in range 10900-11000 PE. FII bought 12.9K PE and 8.2 K PE were shorted by them. Retail bought 26.1 K PE and 22.6 K PE were shorted by them.
  • Total Future & Option trading volume at 5.29 Lakh core with total contract traded at 0.82 lakh , PCR @1.02

 

  • FII’s bought 572 cores  and DII’s sold 290 cores in cash segment.INR closed at 68.58

 

Buy above 11366 Tgt 11392,11420 and 11450 (Nifty Spot Levels)

Sell below 11325 Tgt 11290,11270 and 11250 (Nifty Spot Levels)

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