Nifty RBI Policy Analysis

  • FII’s sold 14 K contract of Index Future worth 1152 cores 6.1 K Long contract were covered by FII’s and 7.8 K Short contracts were added by FII’s. Net Open Interest increased  by 1.6 K contract, so fall in Nifty was used by FII’s to exit long and enter short in  Index futures.FII’s Long to Short Ratio at 1.52 How Comfortable you are with your trading ?
  • As Discussed in Last Analysis   Now Bulls need to hold 12039-12045 range in case of correction for this upmove to continue further towards 12220/12300. Bears will get active below 12020 for a move back to 11966/11910. We have RBI Policy tomorrow, Bulls failed to hold range of 12039-12045 and closed below it,Bears will get active below 12020 for a move back to 11966/11910. Bulls fresh long should be taken above 12105 for a move towards 12170/12225.THE MOST NEGLECTED TRADING DISCIPLINE

  • Nifty June Future Open Interest Volume is at 1.92 core with liquidation of 5.1 Lakh with  decrease in  cost of carry suggesting short position were closed today, NF Rollover cost @11954 closed above it
  • Total Future & Option trading volume at 9.72 Lakh core with total contract traded at 1.09 lakh , PCR @0.88
  • 12100 CE  is having Highest OI  at 18Lakh, resistance at 12100 followed by 12200 .11000-11800 CE added 8.5 Lakh in OI so bears added position in range of 11800-12000. FII bought 3.2 K CE and 3.2 K CE were shorted  by them. Retail bought 98.3 K CE and 45.6 K CE were shorted by them.
  • 11800 PE OI@16 Lakhs having the highest OI strong support at 11800 followed by 11700 . 11000-11700 PE liquidated 10 Lakh in OI so bulls covered position in range 11700-11800 .FII bought 15.4 PE and 5.6 K shorted PE were covered  by them. Retail sold 21.4 K PE and 12 K PE were shorted by them.

Buy above 12041  Tgt 12076,12099 and 12122 (Nifty Spot Levels)

Sell below 12000 Tgt 11986,11951 and 11933 (Nifty Spot Levels)

Upper End of Expiry: 12119

Lower End of Expiry: 11922

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