Nifty Technical Analysis for 03 Aug

  • FII bought 994 contract of Index Future worth 30 cores, Net OI has increased by 3.1 K contract, 2 K Long contract were added by FII and 1 K  Shorts were added by FII. Net FII Long Short ratio at 1.96, So FII used fall to enter longs and enter  shorts.
  •  As discussed in last analysis  Nifty bears have broken gann line as shown in below chart,and we have monthly close tommorw Bulls and Bears will fight for 11000-11008. Nifty Bulls need to move above 11150 for a move towards 11192/11241. Bears will get active below 11051 for a move towards 11000/10955/10870. High made was 11150 bulls unable to break 11150 and bears below 11051 failed to do target of 11100. 03 Aug is important astro date as Mars at Perihelion so good move will be seen in next 2 trading sessions. Nifty Bulls need to move above 11111 for a move towards 111184/11260. Bears will get active below 11024 for a move towards 10960/10890.

  • Total Future & Option trading volume at 9.92 Lakh core with total contract traded at 1.84 lakh , PCR @0.88
  • Nifty Aug Future Open Interest Volume is at 1.02 Cores with liquidation of 1.49 Lakh with increase in cost of carry suggesting short position were closed today, NF Rollover cost @11197 closed below it.
  • 11200 CE is having Highest OI at 10 Lakh, resistance at 11200 followed by 11300.11000-11300 CE added 11 Lakh in OI so bears added in range of 11200-11300.FII bought 25.8 K CE and 28 K CE were shorted by them. Retailers bought 185 K CE and 177  K  CE were shorted by them. 
  • 11000 PE OI@12 Lakhs having the highest OI strong support at 11000 followed by 10900. 11000-11300 PE added 15  Lakh in OI so bulls covered position in range 11000-11100.FII bought 21.9 K PE and 14.9 K PE were shorted by them. Retailers bought 142 K PE and142 K PE were shorted by them.
  • FII’s sold 98 cores and DII’s bought 442 cores in cash segment.INR closed at 75.04

Buy Above 11090 Tgt 11120,11144 and 11177(Nifty Spot Levels)

Sell Below 11026 Tgt 11000,10985 and 10950 (Nifty Spot Levels)

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