Nifty Technical Analysis for 14 Aug

  • FII bought 7.9 K contract of Index Future worth 766 cores, Net OI has increased by 1.8 K contract, 4.8 K Long contract were added by FII and 3 K Shorts were liqudiated by FII. Net FII Long Short ratio at 1.24, So FII used fall to enter longs and exit shorts.
  •  As discussed in last analysis  Bulls were able to hold 11300-11290 range so can head towards 11365/11400/11444 Also tommrow we have Venus at Greatest Elong suggesting suggesting big move will come. Bears will get active below 11260 for a move back to 11211/11185. High made was 11360 so bulls did 1 target.  Now Bulls need to protect 11270-11300  range for the upmove towards 11365/11400/11444 . Bears will get active below 11226 for a move back to 11185/11120/11060.

  • Total Future & Option trading volume at 30.3 Lakh core with total contract traded at 1.16 lakh , PCR @0.81
  • Nifty Aug Future Open Interest Volume is at 1.02 Cores with liquidation of 2.5 Lakh with increase in cost of carry suggesting short position were closed today, NF Rollover cost @11197 closed above it.
  • 11400 CE is having Highest OI at 16 Lakh, resistance at 11400 followed by 11500.11200-11400 CE added 21 Lakh in OI so bears added in range of 11350-11450.
  • 11200 PE OI@12 Lakhs having the highest OI strong support at 11200 followed by 11000. 11000-11300 PE added 21  Lakh in OI so bulls covered position in range 11200-11200.
  • FII’s bought 416 cores and DII’s sold 763 cores in cash segment.INR closed at 74.92

Buy Above 11323 Tgt 11349,11371 and 11400 (Nifty Spot Levels)

Sell Below 11260 Tgt 11238,11220 and 11185 (Nifty Spot Levels)

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