Nifty Analysis for 04 Sep

  • FII sold 9.4 K contract of Index Future worth 771 cores, Net OI has decreased by 5.1 K contract, 7.2 K Long contract were covered by FII and 2.1 K Shorts were added by FII. Net FII Long Short ratio at 1.32, So FII used rise to exit longs and enter shorts.
  •  As discussed in last analysis  We are near a perfect set up for explosive move as we have astro date today with Inside Bar formation.Bulls need to move above 11560 for a move back to 11610/11666/11721 . Bears will get active below 11470 for a move back to 11424/11370/11333.Bulls got whipsawed and Bears did not trigger 11470 on downside, As shown in below Gann Angle chart,Price has resisted at 11585 which was 1×1 gann angle resistance and support comes at 11325 If we open with huge gap down tommorow we might again retest 11325,Based on Opening we will give the level on Twitter . We have closed below the TC level so short term trend is bearish only. 

  • Total Future & Option trading volume at 35.8 Lakh core with total contract traded at 1.23 lakh , PCR @0.92
  • Nifty Aug Future Open Interest Volume is at 1.07 Cores with addition of 1.9 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @11514 closed below it.
  • 11600 CE is having Highest OI at 16 Lakh, resistance at 11600 followed by 11700.11300-11800 CE added 21.7 Lakh in OI so bears added in range of 11700-11800.
  • 11400 PE OI@20 Lakhs having the highest OI strong support at 11400 followed by 11300. 11300-11500 PE added 12  Lakh in OI so bulls addded position in range 11400-11300.
  • FII’s bought 7 cores and DII’s bought 120 cores in cash segment.INR closed at 73.65

Buy Above 11500  Tgt 11525,11555 and 11589 (Nifty Spot Levels)

Sell Below 11410 Tgt 11385,11350 and 11325 (Nifty Spot Levels)

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