Mercury at Superior Conjunction:Nifty Analysis

  • FII bought 19.1 K contract of Index Future worth 1557 cores, Net OI has increased by 7.8 K contract, 13.5 K Long contract were added by FII and 5.6 K Shorts were liqudiated by FII. Net FII Long Short ratio at 1.91, So FII used rise to enter longs and exit shorts.
  •  As discussed in last analysis Bears will get active below 11150 for a move back to 11101/11048/10995/10943. Bulls will get active above 11240 for a move back to 11300/11366/11415.  We have Mercury at Superior Conjunction on 17 Aug as discussed in below video so we have a key pressure date. Bears will get active below 11201 for a move back to 11150/11097/11049/11000. Bulls will get active above 11270 for a move back to 11324/11377/11424.

  • Total Future & Option trading volume at 12.46 Lakh core with total contract traded at 1.47 lakh , PCR @0.99
  • Nifty Aug Future Open Interest Volume is at 1 Cores with addition of 0.03 Lakh with increase in cost of carry suggesting long position were closed today, NF Rollover cost @11197 closed above it.
  • 11400 CE is having Highest OI at 20 Lakh, resistance at 11400 followed by 11500.11200-11400 CE added 11 Lakh in OI so bears added in range of 11350-11450.FII bought 16.2 K CE and 7.3 K CE were shorted by them. Retailers sold 3.3 K CE and 19.2 K  CE were shorted by them. 
  • 11200 PE OI@16 Lakhs having the highest OI strong support at 11200 followed by 11000. 11000-11300 PE added 31  Lakh in OI so bulls covered position in range 11200-11200.FII bought 16.4 K PE and 19.8 K PE were shorted by them. Retailers bought 123 K PE and 87 K PE were shorted by them.
  • FII’s bought 332 cores and DII’s sold 717 cores in cash segment.INR closed at 74.93

Buy Above 11270 Tgt 11298,11323 and 11343 (Nifty Spot Levels)

Sell Below 11201 Tgt 11172,11144 and 11111 (Nifty Spot Levels)

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