Nifty Bulls break gann angle follow up move required

  • FII’s sold 903 contract of Index Future worth 146 cores ,3 K  Long contract were added by FII’s and 3.9 K Short contracts were added by FII’s. Net Open Interest increased  by 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 1.29. Dealing with Loss Aversion in Trading
  • As Discussed in Last Analysis   Now again 11390-11400 will remains a zone of resistance, Fresh longs above 11400 for a move towards 11444/11503. Bearish below 11290 for a move back to 11235/11184. 06 Aug is another imp time cycle date. Nifty opened with gap but again failed to close above the resistance zone of 11390-11400. Bulls need close above 11400 for a move towards 11444/11503/11557/11611. Bearish below 11290 for a move back to 11235/11184. Important intraday time for reversal can be at 1:15/1:58. Bank Nifty does 27994 holding time cycle low,EOD Analysis

  • Nifty Aug Future Open Interest Volume is at 2.63 core with addition of 1.3 Lakh with increase in  cost of carry suggesting long position were added today, NF Rollover cost @11149 closed above it.
  • 11500 CE  is having Highest OI  at 34.5Lakh, resistance at 11400 followed by 11500 .10500-11500 CE added 1.5 lakh in OI so bears  added position in range of 11400-11500 CE. FII bought 1.9  K CE and 3.6 K  CE were shorted by them. Retail bought 35.7 K CE and 22.6 K CE were shorted by them.

 

  • 11200 PE OI@40.1 lakhs having the highest OI strong support at 11200 followed by 11100 . 10500-11500 PE added 10.8 Lakh in OI so bulls added position in range 11100-11200 PE. FII bought 1 K PE and 20.5 K PE were shorted by them. Retail bought 70.4 K PE and 31.3 K PE were shorted by them.
  • Total Future & Option trading volume at 5.38 Lakh core with total contract traded at 0.63 lakh , PCR @1.11

 

  • FII’s bought 248 cores  and DII’s bought 218 cores in cash segment.INR closed at 68.88

 

Buy above 11400 Tgt 11419,11449 and 11476 (Nifty Spot Levels)

Sell below 11360 Tgt 11343,11320 and 11300 (Nifty Spot Levels)

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