Nifty Analysis for July Monthly Closing

  • FII bought 7.2 K contract of Index Future worth 538 cores, Net OI has decreased by 62 K contract, 18.4 K Long contract were covered by FII and 44.5 K  Shorts were covered by FII. Net FII Long Short ratio at 1.96, So FII used fall to exit longs and exit  shorts.
  •  As discussed in last analysis  We formed a perfect OUTSIDE BAR singalling volatile move coming as we approach montly expiry and monthly closing. Bulls need to move above 11236 for a move back to 11289/11343/11400. Bears will get active below 11181 for a move back to 11131/11078/11025.Nifty bears have broken gann line as shown in below chart,and we have monthly close tommorw Bulls and Bears will fight for 11000-11008. Nifty Bulls need to move above 11150 for a move towards 11192/11241. Bears will get active below 11051 for a move towards 11000/10955/10870.

  • Total Future & Option trading volume at 44 Lakh core with total contract traded at 1.62 lakh , PCR @0.84
  • Nifty Aug Future Open Interest Volume is at 1.04 Cores with addition of 27 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @11197 closed below it.
  • 11300 CE is having Highest OI at 10 Lakh, resistance at 11300 followed by 11400.11000-11300 CE added 29 Lakh in OI so bears added in range of 11200-11300.
  • 11000 PE OI@10 Lakhs having the highest OI strong support at 11000 followed by 10900. 11000-11300 PE liqudiated 15  Lakh in OI so bulls covered position in range 11000-11100.
  • FII’s bought 207 cores and DII’s sold 387 cores in cash segment.INR closed at 75.09

Buy Above 11132 Tgt 11162,11192 and 11239(Nifty Spot Levels)

Sell Below 11051 Tgt 11024,11000 and 10950 (Nifty Spot Levels)

2 thoughts on “Nifty Analysis for July Monthly Closing”

Leave a Reply