Ideas and Forecasts on NIFTY

  • FII bought 16.1 K contract of Index Future worth 1330  cores, Net OI has increased by 13.9 K contract, 15 K Long contract were added by FII and 1 K Shorts were covered by FII. Net FII Long Short ratio at 1.9, So FII used rise to enter longs and exit shorts.
  •  As discussed in last analysis Now Bears need to break 10675 for a move back to 10610/10570/10500. Bulls will get active above 10745 for a move back to 10810/10866.Low made was 10733 so bulls once above 10745 and did 1 on upside. Now we have very important cycle coming on 12 Jul so we should see big move in nifty in coming 2 trading sessions. Bulls need to move above 10845 for a move back to 10900/10960. Bears will get active below 10777 for a move back to 10730/10666.

  • Total Future & Option trading volume at  32 Lakh core with total contract traded at 1.7 lakh , PCR @0.77
  • Nifty July Future Open Interest Volume is at 1.16 Cores with addition of 4.6 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @10325 closed above it.
  • 10900 CE is having Highest OI at 11 Lakh, resistance at 10900 followed by 11000.10200-10700 CE added 16 Lakh in OI so bears added in range of 10600-10800.
  • 10600 PE OI@5 Lakhs having the highest OI strong support at 10600 followed by 10500. 10200-10600 PE added 4  Lakh in OI so bulls added position in range 10500-10600.
  • FII’s bought 212 cores and DII’s sold 803 cores in cash segment.INR closed at 75.20

Buy Above 10820 Tgt 10850,10890 and 10925 (Nifty Spot Levels)

Sell Below 10777 Tgt 10743,10710 and 10666 in a ne (Nifty Spot Levels)

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