Nifty Analysis for 11 Aug

  • FII bought 555 contract of Index Future worth 24 cores, Net OI has decreased by 1.2  K contract, 352 Long contract were covered by FII and 907  Shorts were covered by FII. Net FII Long Short ratio at 1.42, So FII used rise to exit longs and exit shorts.
  •  As discussed in last analysis  Nifty formed an Inside Bar and NR7 together combined with 09 Aug Astro date suggesting big move will be seen in next 2 days. Nifty Bulls need to move above 11263 for a move towards 11323/11390/11444. Bears will get active below 11140 for a move back to 11070/11000/10920. 11323 done above 11263, Till 11226-11238 is held bulls can rally towards 11323/11382/11444. Bears will get active below 11225 for a move back to 11185/11127/11064

  • Total Future & Option trading volume at 10.4 Lakh core with total contract traded at 1.25 lakh , PCR @0.85
  • Nifty Aug Future Open Interest Volume is at 1.03 Cores with liquidation of 35.3 Lakh with increase in cost of carry suggesting short position were covered today, NF Rollover cost @11197 closed above it.
  • 11300 CE is having Highest OI at 36 Lakh, resistance at 11300 followed by 11400.11000-11300 CE added 21 Lakh in OI so bears added in range of 11200-11300.FII sold 207 CE and 2.2 K CE were shorted by them. Retailers bought 66.4 K CE and 30.8 K  CE were shorted by them. 
  • 11100 PE OI@32 Lakhs having the highest OI strong support at 11100 followed by 11000. 11000-10800 PE added 21  Lakh in OI so bulls covered position in range 11000-11100.FII bought 5.7 K PE and 1.7 K shorted PE were covered by them. Retailers bought 49.1 K PE and 47.4 K PE were shorted by them.
  • FII’s bought 302 cores and DII’s sold 504 cores in cash segment.INR closed at 75.09

Buy Above 11287 Tgt 11313,11341 and 11376(Nifty Spot Levels)

Sell Below 11250 Tgt 11226,11200 and 11185 (Nifty Spot Levels)

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