Nifty Ready for the Big Move

  • FII sold 3.8 K contract of Index Future worth 1241 cores, Net OI has decreased by  17 K contract, 14 K Long contract were covered by FII and 4.1 K Shorts were added by FII. Net FII Long Short ratio at 0.46, So FII used fall to exit longs and enter shorts.
  •  As discussed in last analysis  Till bulls are holding 10361 Nifty can rally towards 10421/10499/10555. Bears will get active below 10270 for a move back to 10209/10158/10108/10060.Bears were able to do 1 target on downside, We are seeing a range contraction also tommrow very important Astro date suggesting big move round the corner. Bears below 10277 can push towards 10222/10177/10130. Bulls will get active above 10343 for a move back to 10400/10470/10525.

  • Total Future & Option trading volume at 9.56 Lakh core with total contract traded at 2.1 lakh , PCR @0.86
  • Nifty July Future Open Interest Volume is at 1.14 Cores with liquidation of 2.1 Lakh with decrease in cost of carry suggesting short position were closed today, NF Rollover cost @10325 closed below it.
  • 10400 CE is having Highest OI at 4 Lakh, resistance at 10400 followed by 10500.10200-10600 CE added 12 Lakh in OI so bears added in range of 10400-10600.FII bought 13.4  K CE and 25.8 K CE were shorted by them. Retailers bought 125 K CE and 81 K  CE were shorted by them.
  • 10200 PE OI@10 Lakhs having the highest OI strong support at 10200 followed by 10300. 10100-10300 PE added 8  Lakh in OI so bulls added position in range 10100-10200.FII bought 18.4 K PE and 9.8 K PE were shorted by them. Retailers bought 89.5 K PE and 94.2 K PE were shorted by them.
  • FII’s sold 1937 cores and DII’s bought 1036 cores in cash segment.INR closed at 75.68

Buy Above 10343 Tgt 10370,10399 and 10420 (Nifty Spot Levels)

Sell Below 10280 Tgt 10260,10225 and 10200(opens in a ne (Nifty Spot Levels)

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