Ideas and Forecasts on NIFTY Weekly Expiry

  • FII bought 14.3 K contract of Index Future worth 1002 cores, Net OI has increased by 8.7 K contract, 11.5 K Long contract were covered by FII and 2.8 K Shorts were covered by FII. Net FII Long Short ratio at 1.5, So FII used fall to enter longs and exit shorts.
  •  As discussed in last analysis  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.Bulls got whipsawed above 10816 bears were able to do 10690 on downside. 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.

  • Total Future & Option trading volume at 19.4 Lakh core with total contract traded at 2 lakh , PCR @0.87
  • Nifty July Future Open Interest Volume is at 1.11 Cores with liquidation of 4.8 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 31 Lakh, resistance at 10900 followed by 11000.10200-10700 CE added 26 Lakh in OI so bears added in range of 10600-10800.FII bought 4.4 K CE and 3 K shorted CE were covered by them. Retailers bought 148 K CE and 91 K  CE were shorted by them.
  • 10600 PE OI@50 Lakhs having the highest OI strong support at 10600 followed by 10500. 10200-10600 PE added 48  Lakh in OI so bulls added position in range 10300-10400.FII bought 21.9 K PE and 14.2 K PE were shorted by them. Retailers sold 33 K PE and 13 K shorted PE were covered by them.
  • FII’s sold 994 cores and DII’s sold 853 cores in cash segment.INR closed at 75.20

Buy Above 10725 Tgt 10743,10762 and 10810 (Nifty Spot Levels)

Sell Below 10675 Tgt 10640,10610 and 10570 in a ne (Nifty Spot Levels)

Upper End of Expiry: 10852

Lower End of Expiry : 10559

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