Nifty 50 Technical Analysis and Insights

  • FII bought 15.8 K contract of Index Future worth 1236 cores, Net OI has increased by 3.3 K contract, 9.6 K Long contract were added by FII and 6.2 K Shorts were liqudiated by FII. Net FII Long Short ratio at 1.51, So FII used rise to enter longs and exit shorts.
  •  As discussed in last analysis Now Bears need to break 11280 for a move back to 11225/11185. Bulls will get active above 11377 for a move back to 11444/11500. Important Astro date tommrow. Another gap up open in Nifty, Now bulls need to move above 11390 for a move back to 11444/11498. Bears will get active below 11343 for a move back to 11260/11210. Nifty can do price time squaring as its complete its cycle on 23 Aug so big move

  • Total Future & Option trading volume at 8.85 Lakh core with total contract traded at 1.05  lakh , PCR @0.85
  • Nifty Aug Future Open Interest Volume is at 0.93 Cores with liquidation of 1.7 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 36 Lakh, resistance at 11400 followed by 11500.11200-11400 CE added 31 Lakh in OI so bears added in range of 11400-11450.FII bought 31.9 K CE and 17.1 K CE were shorted by them. Retailers bought 81.4 K CE and 97.9 K CE were shorted by them. 
  • 11200 PE OI@26 Lakhs having the highest OI strong support at 11200 followed by 11100. 11000-11300 PE added 31  Lakh in OI so bulls addded position in range 11350-11300.FII bought 18.7 K PE and 23.6 K PE were shorted by them. Retailers bought 140 K PE and 124  K PE were shorted by them.
  • FII’s bought 410  cores and DII’s sold 250 cores in cash segment.INR closed at 74.92

Buy Above 11390 Tgt 11410,11436 and 11472 (Nifty Spot Levels)

Sell Below 11343 Tgt 11327,11295 and 11260 (Nifty Spot Levels)

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