Nifty Analysis as Mercury at Perihelion

  • FII bought 3.5 K contract of Index Future worth 493 cores, Net OI has increased by 7.8  K contract, 5.6 K Long contract were added by FII and 2.1 K  Shorts were added by FII. Net FII Long Short ratio at 1.46, So FII used fall to enter longs and enter shorts.
  •  As discussed in last analysis  Bulls need to move above 11145 for a move back to 11225/11300. Bears will get active below 11064 for a move back to 11015/10962. 11225 done and we formed a perfect Doj on Astro date suggesting break of high and low of 07 Aug will give 150 points move in Nifty.NIfty Bulls need to move above 11200 for a move towards 11260/11320. Bears will get active below 11142 for a move back to 11100/11050.

  • Total Future & Option trading volume at 21.74 Lakh core with total contract traded at 1.87 lakh , PCR @0.95
  • Nifty Aug Future Open Interest Volume is at 1.02 Cores with addition of 2.5 Lakh with decrease in cost of carry suggesting short position were added today, NF Rollover cost @11197 closed below it.
  • 11300 CE is having Highest OI at 16 Lakh, resistance at 11300 followed by 11400.11000-11300 CE added 21 Lakh in OI so bears added in range of 11200-11300.
  • 11000 PE OI@17 Lakhs having the highest OI strong support at 11000 followed by 10900. 11000-10800 PE added 21  Lakh in OI so bulls covered position in range 11000-11100.
  • FII’s bought 637 cores and DII’s sold 468 cores in cash segment.INR closed at 75.11

Buy Above 11225 Tgt 11250,111280 and 11321(Nifty Spot Levels)

Sell Below 11185 Tgt 11160,11132and 11100 (Nifty Spot Levels)

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