Nifty Analysis for 21 Aug

  • FII sold 23.8 K contract of Index Future worth 1696 cores, Net OI has increased by 5.3 K contract, 9.2 K Long contract were liqudiated by FII and 14.5 Shorts were added by FII. Net FII Long Short ratio at 1.18, So FII used rise to exit longs and enter shorts.
  •  As discussed in last analysis Bulls need to move hold 11400-11385 range for the upmove to continue towards 11440/11495/11529.Bears will get active below 11350 for a move back to 11289/11220.We got a gap down open and price came near our sell level @11350 and did our target of 11289, formed another DOJI candel,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.

  • Total Future & Option trading volume at 34.89 Lakh core with total contract traded at 1.52 lakh , PCR @0.81
  • Nifty Aug Future Open Interest Volume is at 0.95 Cores with liquidation of 1.9 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @11197 closed above it.
  • 11400 CE is having Highest OI at 33 Lakh, resistance at 11400 followed by 11500.11200-11400 CE added 21 Lakh in OI so bears added in range of 11400-11450.
  • 11100 PE OI@16 Lakhs having the highest OI strong support at 11200 followed by 11100. 11000-11300 PE added 11  Lakh in OI so bulls addded position in range 11350-11300.
  • FII’s sold 268 cores and DII’s sold 672 cores in cash segment.INR closed at 75.16

Buy Above 11325 Tgt 11343,11370and 11392 (Nifty Spot Levels)

Sell Below 11280 Tgt 11260,11235 and 11210 (Nifty Spot Levels)

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