Nifty Analysis for 07 Sep

  • FII sold 8.7 K contract of Index Future worth 696 cores, Net OI has decreased by 176 contract, 4.4 K Long contract were covered by FII and 4.2 K Shorts were added by FII. Net FII Long Short ratio at 1.15, So FII used rise to exit longs and enter shorts.
  •  As discussed in last analysis   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.  Nifty opend with gap down and levels we gave on twitter worked perfectly, We are near gann angle support as shown in below chart and once we break 11300 we can see a fall towards 11224/11185/11110.Bulls will get active above 11350 for a move back to 11410/11452/11510

  • Total Future & Option trading volume at 33.3  Lakh core with total contract traded at 1.93 lakh , PCR @0.82
  • Nifty Aug Future Open Interest Volume is at 1.07 Cores with liquidation of 0.27 Lakh with increase in cost of carry suggesting short position were closed today, NF Rollover cost @11514 closed below it.
  • 11500 CE is having Highest OI at 26 Lakh, resistance at 11500 followed by 11600.11300-11800 CE added 37 Lakh in OI so bears added in range of 11500-11800.FII bought 11 K CE and 11.6 K CE were shorted by them. Retailers bought 250 K CE and 31 K CE were shorted by them. 
  • 11200 PE OI@20 Lakhs having the highest OI strong support at 11200 followed by 11100. 11300-11500 PE added 22  Lakh in OI so bulls addded position in range 11400-11300.FII bought 21.7 K PE and 20 K PE were shorted by them. Retailers bought 103 K PE and 375 K shorted PE were covered by them.
  • FII’s sold 1888 cores and DII’s sold 456 cores in cash segment.INR closed at 73.31

Buy Above 11343  Tgt 11363,11390 and 11421 (Nifty Spot Levels)

Sell Below 11273 Tgt 11250,11214 and 11185 (Nifty Spot Levels)

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