Nifty Analysis for 08 Sep

  • FII bought 10.2 K contract of Index Future worth 652 cores, Net OI has increased by 1.6 K contract, 5.9  K Long contract were added by FII and 4.3 K Shorts were added by FII. Net FII Long Short ratio at 1.35, So FII used rise to exit longs and enter shorts.
  •  As discussed in last analysis  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. Bears got whipsawed below 11300, and we formed DOJI near gann angle support. Bears need to break 11300 for a move towards 11256/11185/11110. Bulls need to move above 11406 for a move back to 11452/11510

  • Total Future & Option trading volume at 33.3  Lakh core with total contract traded at 1.56 lakh , PCR @0.88
  • Nifty Aug Future Open Interest Volume is at 1.07 Cores with liquidation of 0.06 Lakh with decrease in cost of carry suggesting short position were closed today, NF Rollover cost @11514 closed below it.
  • 11500 CE is having Highest OI at 36 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 19 K CE and 22.9 K CE were shorted by them. Retailers bought 106 K CE and 84 K CE were shorted by them. 
  • 11200 PE OI@24 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 16.5 K PE and 20 K PE were shorted by them. Retailers bought 120 K PE and 89 K shorted PE were shorted by them.
  • FII’s sold 6 cores and DII’s sold 815 cores in cash segment.INR closed at 73.60

Buy Above 11385  Tgt 11406,11444 and 11480 (Nifty Spot Levels)

Sell Below 11313 Tgt 11280,11255 and 11220 (Nifty Spot Levels)

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