Has Nifty Made Short Term Top ?

  • FII sold 51.9 K contract of Index Future worth 4067 cores, Net OI has increased by 2.7 K contract, 24.6 K Long contract were covered by FII and 27.3 K Shorts were added by FII. Net FII Long Short ratio at 1.3, So FII used fall to exit longs and enter shorts.
  •  As discussed in last analysis  Bulls need to move above 11700 for a move back to 11743/11799/11840. Bears will get active below 11585 for a move back to 11544/11499.We saw a gap up opening but once we moved below 11752 important Number as disucssed in Twitter and below 11699 ABCD PRZ Zone we saw the big fall. Today high will be very important as discussed in below video.We will see AGR Case outcome tommrow around 11:30 so trade very cautiously. Bulls need to move above 11417 for a move back to 11470/11524/11577. Bears will get active below 11309 for a move back to 11256/11203/11150.

  • Total Future & Option trading volume at 23.3 Lakh core with total contract traded at 3.1 lakh , PCR @1.12
  • Nifty Aug Future Open Interest Volume is at 1.12 Cores with liquidation of 10 Lakh with increase in cost of carry suggesting long position were closed today, NF Rollover cost @11514 closed below it.
  • 11600 CE is having Highest OI at 26.1 Lakh, resistance at 11600 followed by 11700.11300-11800 CE added 21.7 Lakh in OI so bears added in range of 11700-11800.FII bought 5.5 K CE and 37 K CE were shorted by them. Retailers bought 316 K CE and 163 K CE were shorted by them. 
  • 11300 PE OI@38 Lakhs having the highest OI strong support at 11300 followed by 11200. 11300-11500 PE added 2  Lakh in OI so bulls addded position in range 11200-11300.FII bought 27 K PE and 2.7 K PE were shorted by them. Retailers sold 162 K PE and 68 K shorted PE were covered by them.
  • FII’s sold 3.3 K cores and DII’s bought 680 cores in cash segment.INR closed at 73.49

Buy Above 11410 Tgt 11445,11470 and 11500 (Nifty Spot Levels)

Sell Below 11323 Tgt 11300,11275 and 11250 (Nifty Spot Levels)

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