Nifty Analysis as Saturn goes in Opposition

  • FII sold 1.6 K contract of Index Future worth 68 cores, Net OI has increased by 4.3 K contract, 1.3 K Long contract were added by FII and 2.9 K  Shorts were added by FII. Net FII Long Short ratio at 1, So FII used rise to enter longs and enter shorts.
  •  As discussed in last analysis  Monday is an important Astro date so we should see a trending move. Bulls need to move above 10905 for a move towards 10957/11009/11062. Bears will get active below 10852 for a move back to 10800/10749/10700.Nifty opened with a gap up, As today is an important Astro Date break of High and low of today will guide us for 150-200 points in Nifty. Bulls need to move above 11057 for a move back to 11110/11163/11216. Bears will get active below 10953 for a move back to 10900/10848/10796.

  • Total Future & Option trading volume at  11.8 Lakh core with total contract traded at 1.56 lakh , PCR @0.84
  • Nifty July Future Open Interest Volume is at 1.07  Cores with addition of 2.6 Lakh with decrease in cost of carry suggesting long position were added today, NF Rollover cost @10325 closed above it.
  • 11100 CE is having Highest OI at 12 Lakh, resistance at 11100 followed by 11200.10500-10900 CE added 23 Lakh in OI so bears added in range of 10900-11000.FII bought 17.3 K CE and 21.4 K CE were shorted by them. Retailers bought 96 K CE and 57.6 K  CE were shorted by them.
  • 10800 PE OI@33 Lakhs having the highest OI strong support at 10800 followed by 10900. 10600-10900 PE added 24  Lakh in OI so bulls added position in range 10700-10900.FII bought 4.8 K PE and 3.4 K PE were shorted by them. Retailers bought 129 K PE and 102 K PE were shorted by them.
  • FII’s bought 1709 cores and DII’s sold 1521 cores in cash segment.INR closed at 74.83

Buy Above 11035 Tgt 11057,11080 and 11111 (Nifty Spot Levels)

Sell Below 10995 Tgt 10970,10950 and 10920 (Nifty Spot Levels)

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