Venus Elogation Shows Effect on Nifty

  • FII bought 6.6 K contract of Index Future worth 413 cores, Net OI has decreased by 2.6 K contract, 2 K Long contract were added by FII and 4.6 K Shorts were liqudiated by FII. Net FII Long Short ratio at 1.40, So FII used fall to enter longs and exit shorts.
  •  As discussed in last analysis    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. Bears were able to do 3 target on downside below 11226,we made top on 13 Aug which was Venus Elogation date as discussed.Bears were also able to break the gann angle on closing basis suggesting  more fall can be seen below 11150. Bears will get active below 11150 for a move back to 11101/11048/10995/10943. Bulls will get active above 11240 for a move back to 11300/11366/11415.

  • Total Future & Option trading volume at 13.91 Lakh core with total contract traded at 1.97 lakh , PCR @0.98
  • Nifty Aug Future Open Interest Volume is at 1 Cores with liquidation of 1.91 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @11197 closed below 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.FII bought 15.7 K CE and 16.5 K CE were shorted by them. Retailers bought 208 K CE and 163 K  CE were shorted by them. 
  • 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 bought 22.9 K PE and 18.7 K PE were shorted by them. Retailers bought 95 K PE and 99 K PE were shorted by them.
  • FII’s bought 46 cores and DII’s sold 797 cores in cash segment.INR closed at 75.02

Buy Above 11220 Tgt 11238,11260 and 11300 (Nifty Spot Levels)

Sell Below 11150Tgt 11125,11100 and 11071 (Nifty Spot Levels)

4 thoughts on “Venus Elogation Shows Effect on Nifty”

  1. Where did you mention the direction down or up. ? only big movement ? which side no idea? Suggest to please mention the big movement direction to take benefit of your study.

  2. Bramesh ,
    Please clarify whether it is “Elongation” OR “Elogation” . I could find only ElonGation in Google Search
    Thanks
    D.Anand

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