Nifty Analysis as Neptune at Opposition

  • FII sold 5.2 K contract of Index Future worth 467 cores, Net OI has increased by 4.9 K contract, 145 Long contract were covered  by FII and 5 K Shorts were covered  by FII. Net FII Long Short ratio at 1.26 So FII used rise to exit longs and enter shorts.
  •  As discussed in last analysis Now Bulls need to move above 11465 for a move back to 11521/11576. Bears will get active below 11390 for a move back to 11325/11275. Yesterday went Neptune went into Opposition so bears first need to break 11390 for a move back to 11343/11275/11220,Break of 11500 Bulls  can see move towards 11555/11610/11666. 

  • Total Future & Option trading volume at 11.2 Lakh core with total contract traded at 1.33 lakh , PCR @0.93
  • Nifty Sep Future Open Interest Volume is at 1.06 Cores with addition of 7.02 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @11514 closed below it.
  • 11500 CE is having Highest OI at 20 Lakh, resistance at 11500 followed by 11600.11300-11600 CE added 10 Lakh in OI so bears added in range of 11300-11400.FII bought 17.6 K CE and 22.1 K CE were shorted by them. Retailers bought 164 K CE and 152 K CE were shorted by them. 
  • 11300 PE OI@12 Lakhs having the highest OI strong support at 11300 followed by 11200. 11300-11500 PE added 22  Lakh in OI so bulls addded position in range 11200-11300.FII bought 38.4 K PE and 31.7 K PE were shorted by them. Retailers bought 135 K PE and 145 K PE were shorted by them. 
  • FII’s bought 1175 cores and DII’s sold 724 cores in cash segment.INR closed at 73.66

Buy Above 11466 Tgt 11499,11525 and 11555 (Nifty Spot Levels)

Sell Below 11420 Tgt 11389,11360 and 11333 (Nifty Spot Levels)

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