Nifty EOD Analysis for 03 Sep Trade

  • As Discussed in Last Analysis  10891-10909 is important support zone, Holding the same we can see bounce back till 11045/11113, Bears will get active below 10890 for a move back to 10821/10777. We have monthly closing tomorrow bulls would like to close in range of 11040-11060. 11042 done and we recovered from 10875 to do monthly close around 11040. Now Bulls need to close above 11060 for the up move towards 11142 very strong resistance zone and bears need to break 10980 for the down move towards 10930/10890/10821. 03 Sep is important time cycle date.

  • Total Future & Option trading volume at 9 Lakh core with total contract traded at 2.23 lakh , PCR @0.89
  • Nifty Sep Future Open Interest Volume is at 1.74 core with liquidation of 0.81 Lakh with  increase in  cost of carry suggesting long position were added today, NF Rollover cost @11050 closed above it.
  • 11200 CE is having Highest OI at 20 Lakh, resistance at 11200 followed by 11300 .10600-11200 CE added7.2Lakh in OI so bears added position in range of 11000-11200.
  • 10800 PE OI@25.8 Lakhs having the highest OI strong support at 10800 followed by 10900 . 10600-11200 PE added 12 Lakh in OI so bulls added position in range 10800-11100
  • FII’s  bought 1162 cores and DII’s bought 1502 cores in cash segment.INR closed at 71.62

Buy above 11042 Tgt 11060 ,11090 and 11122 (Nifty Spot Levels)

Sell below 11000 Tgt 10980,10955 and 10920  (Nifty Spot Levels)

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