Nifty Ready for Big Move EOD Analysis

  • FII bought 2.6 K contract of Index Future worth 211 cores, Net OI has decreased by 4 K contract, 729 Long contract were covered  by FII and 3.3 K Shorts were covered  by FII. Net FII Long Short ratio at 1.43, So FII used fall to exit longs and exit shorts.
  •  As discussed in last analysis  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. Nifty Bulls got whipsawed above 11406 but levels we gave on Twitter were able to meet all target on downside. Now bears need to break 11300 for a move towards 1256/11185/11110. Bulls will get active above 11366 for a move back to 11410/11460/11510.

  • Total Future & Option trading volume at 15.29  Lakh core with total contract traded at 1.64 lakh , PCR @0.90
  • Nifty Aug Future Open Interest Volume is at 1.05 Cores with liquidation of 1.9 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 37 Lakh, resistance at 11500 followed by 11600.11300-11800 CE added 47 Lakh in OI so bears added in range of 11500-11800.FII sold 2.5 K CE and 2.9 K shorted CE were covered by them. Retailers bought 64 K CE and 40 K CE were shorted by them. 
  • 11200 PE OI@28 Lakhs having the highest OI strong support at 11200 followed by 11100. 11300-11500 PE added 12  Lakh in OI so bulls addded position in range 11400-11300.FII bought 3.9 K PE and 933 shorted PE were covered  by them. Retailers bought 28.5 K PE and 37 K PE were shorted by them.
  • FII’s sold 1056 cores and DII’s bought 621  cores in cash segment.INR closed at 73.96

Buy Above 11333  Tgt 11360,11390 and 11410 (Nifty Spot Levels)

Sell Below 11290 Tgt 11260,11225 and 11201 (Nifty Spot Levels)

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