Nifty Rallies to life high with break of time cycle high,EOD Analysis

  • FII’s bought 9.2 K contract of Index Future worth 657 cores ,9 K Long contract were added by FII’s and 210 Short contracts were added by FII’s. Net Open Interest increased  by 8.8 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 1.08.Honored to be part Online Trading Summit
  • As Discussed in Last Analysis  Nifty went below 10540 but failed to sustain below it,and also failed to close above 11620. We should see a good move in next 2 days, Fresh shorts below 11540 for a move towards 11470/11400. Bullish above 11620 for a move towards 11664/11730. Nifty opened with a gap up and as soon as 11620 broken rallied towards our 1 target of 11664 and mostly will do 11730 tommrow so again time cycle helped in capturing the big move. Now bulls need to hold 11664-650 range for the upmove to continue towards 11730/11808/11880. Bearish below 11620 for a move back to 11570/11500. Important intraday time for reversal can be at 10:30/2:28. Bank Nifty heading for new life high,EOD Analysis

 

  • Nifty Aug Future Open Interest Volume is at 2.71 core with liquidation of 23 Lakh with decrease in  cost of carry suggesting short position were closed  today, NF Rollover cost @11149 closed above it.
  • 11600 CE  is having Highest OI  at 28 Lakh, resistance at 11700 followed by 11800 .11000-12000 CE liquidated 31 lakh in OI so bears  covered position in range of 11400-11500 CE. FII sold 4.4 K CE and 9.6 K shorted  CE were covered  by them. Retail sold 43 K CE and 22 K  shorted  CE were covered  by them.

 

  • 11500 PE OI@38.5 lakhs having the highest OI strong support at 11500 followed by 11400 . 11000-12000 PE added 35 Lakh in OI so bulls added position in range 111500-11600 PE. FII sold 1.8 K PE and 9.8 K  PE were shorted by them. Retail bought 133 K PE and 68 K PE were shorted by them.
  • Total Future & Option trading volume at1 7.83 Lakh core with total contract traded at 1.14 lakh , PCR @1.13

 

 

Buy above 11740 Tgt 11768,11795 and 11820 (Nifty Spot Levels)

Sell below 11662 Tgt 11640,11610 and 11570 (Nifty Spot Levels)

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