Nifty Analysis after 1000 point Rally

  • FII bought 22.2 K contract of Index Future worth 1693 cores, Net OI has increased by 3.6  K contract, 50 K Long contract were added by FII and 7.8 K short were covered by FII. Net FII Long Short ratio at 0.63, So FII used rise to enter longs and exit shorts.
  • As Discussed in Last Analysis  Any close above 11370 can see quick move towards 11555. Bears have there chance below 11225 for a move back towards 11176/11100. We opened with gap up,Now Bulls need a close above 11621 for upmove to continue towards 11687/11730/11810. Bears will get active below 11560 for a move back to 11512/11430. Till we are holding 11370 for we can need rally towards 12100.

  • Total Future & Option trading volume at 19.96 Lakh core with total contract traded at 2.7 lakh , PCR @0.83
  • Nifty Sep Future Open Interest Volume is at 1.64 core with liquidation of 10 Lakh with increase in  cost of carry suggesting long position were closed today, NF Rollover cost @11050 closed above it.
  • 11700 CE is having Highest OI at 20.8 Lakh, resistance at 11700 followed by 11800 .11200-11700 CE liqudiated 172  Lakh in OI so bears covered position in range of 11500-11600. FII bought 32.3  K CE Long and 16.9 K CE were shorted by them. Retails bought 35 K CE and 38.1 K  CE were shorted by them. 
  • 11500 PE OI@26 Lakhs having the highest OI strong support at 11500 followed by 11400 . 11000-11600 PE added 100 K Lakh in OI so bulls added position in range 11000-11100.FII bought 39.2 K PE Long and 17.2 K PE were shorted by them. Retails bought 123 K PE and 78.4K PE were shorted by them. 
  • FII’s  bought 2684 cores and DII’s bought 291 cores in cash segment.INR closed at 70.96

Buy Above 11621 Tgt 11651,11666 and 11700 (Nifty Spot Levels)

Sell Below 11576 Tgt 11555,11525 and 11496 (Nifty Spot Levels)

 

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