RBI’s Policy Impacts on Nifty

  • FII sold 6.8 K contract of Index Future worth 528 cores, Net OI has decreased by 9  K contract, 7.9 K Long contract were covered by FII and 1.1 K  Shorts were covered by FII. Net FII Long Short ratio at 1.39, So FII used fall to exit   longs and exit   shorts.
  •  As discussed in last analysis   Now Bulls need to break 11122 for a move back to 11169/11240/11300. Bears will get active below 11025  for a move back to 10964/10900.Now as we have RBI Policy tommrow combined with Mercury at Perihelion suggesting trending move will be seen in next 2 trading days.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.

  • Total Future & Option trading volume at 21.74 Lakh core with total contract traded at 1.89 lakh , PCR @0.95
  • Nifty Aug Future Open Interest Volume is at 0.99Cores with liqudiation of 0.66 Lakh with increase in cost of carry suggesting long  position were closed today, NF Rollover cost @11197 closed below it.
  • 11200 CE is having Highest OI at 46 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 8 K CE and 14.9 K CE were shorted by them. Retailers bought 145 K CE and 71  K CE were shorted by them. 
  • 11000 PE OI@37 Lakhs having the highest OI strong support at 11000 followed by 10900. 11000-10800 PE added 51  Lakh in OI so bulls covered position in range 11000-11100.FII bought 11.1 K PE and 12.7 K PE were shorted by them. Retailers bought 27 K PE and 24 K PE were shorted by them.
  • FII’s sold 60 cores and DII’s sold 425 cores in cash segment.INR closed at 75.01

Buy Above 11120 Tgt 11145,11169 and 11200 (Nifty Spot Levels)

Sell Below 11065 Tgt 11040,11010 and 10970(Nifty Spot Levels)

Upper End of Expiry : 11238

Lower End of Expiry : 10965

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