Nifty Budget Day Analysis

  • FII’s sold 1.7  K contract of Index Future worth 4 cores 1.8 K Long contract were added by FII’s and 4.1 K  Short contracts were added  by FII’s. Net Open Interest increased  by 9 K contract, so rise in Nifty was used by FII’s to enter long and enter short in  Index futures.FII’s Long to Short Ratio at 1.55 How Comfortable you are with your trading ?
  • We were not able to discuss analysis yesterday,Apologies for that.  Bulls need to move above 11993 for a move towards 12043/12100. Bears will get active below 11883 for a move back to 11830/1175/11750/11700. Trade cautiously as we will see wild and volatile swings.

  • Nifty July Future Open Interest Volume is at 1.79 core with liquidation of 0.68 Lakh with  decrease in  cost of carry suggesting short position were added today, NF Rollover cost @11841 closed above it.
  • Total Future & Option trading volume at 19.7 Lakh core with total contract traded at 1.06 lakh , PCR @0.94
  • 12000 CE  is having Highest OI  at 18.6 Lakh, resistance at 12000 followed by 12100 .11500-12000 CE added 1.26 Lakh in OI so bears added position in range of 11900-12000.
  • 11500 PE OI@16.6 Lakhs having the highest OI strong support at 11600 followed by 11550 . 11000-11700 PE added 7.8 Lakh in OI so bulls added position in range 11700-11800

Buy above 11970  Tgt 11993,12043 and 12102,12157(Nifty Spot Levels)

Sell below 11884 Tgt 11830,11775 and 11743,11694 (Nifty Spot Levels)

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