Ideas and Forecasts on NIFTY

  • FII bought 8.1 K contract of Index Future worth 704 cores, Net OI has increased by 4 K contract, 4.8 K Long contract were covered by FII and 4 Shorts were covered by FII. Net FII Long Short ratio at 1.15, So FII used rise to exit longs and exit shorts.
  •  As discussed in last analysis Today was an important Astro date so today high and low will decide the next 100-150 points move in nifty. Bulls now need to move above 10816 for a move back to 10890/10850. Bears will get active below 10690 for a move back to 10640/10570.Nifty touched Higher and lower end of astro cycle but unable to sustain below that level for 5 mins. Bulls now need to move above 10816 for a move back to 10890/10850. Bears will get active below 10751 for a move back to 10690/10610.

  • Total Future & Option trading volume at 14.59 Lakh core with total contract traded at 1.91 lakh , PCR @0.77
  • Nifty July Future Open Interest Volume is at 1.16 Cores with addition of 4.4 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @10325 closed above it.
  • 10900 CE is having Highest OI at 21 Lakh, resistance at 10900 followed by 11000.10200-10700 CE added 36 Lakh in OI so bears added in range of 10600-10800.FII bought 6.2 K CE and 3.3 K CE were shorted by them. Retailers bought 29.2 K CE and 15.1 K  CE were shorted by them.
  • 10500 PE OI@40 Lakhs having the highest OI strong support at 10500 followed by 10600. 10200-10400 PE added 48  Lakh in OI so bulls added position in range 10300-10400.FII bought 12.8 K PE and 12.9 K PE were shorted by them. Retailers bought 117 K PE and 76.3 K PE were shorted by them.
  • FII’s Bought 830 cores and DII’s sold 784 cores in cash segment.INR closed at 75.05

Buy Above 10816 Tgt 10845,10874 and 10900 (Nifty Spot Levels)

Sell Below 10780 Tgt 10755,10729 and 10695 in a ne (Nifty Spot Levels)

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