Nifty Analysis Ahead of Union cabinet expansion

By | July 7, 2021 7:15 am
  • FII bought 2.9 K contract of Index Future worth 223 cores, Net OI has increased by 4.9 K contract 3.9 K Long contract were added by FII and 1 K Shorts were added by FII. Net FII Long Short ratio at 2.69 so FII used fall to enter longs and enter shorts so longs and  shorts entered the the system.
  • As Discussed in Last Analysis   Bulls were able to do 2 target on upside as Gann Price Time Sqauring and Astro date showed its effect almost 100 points up in 2 trading sessions as discussed in below video. Now Bulls need to move above 15850 for a quick move towards 15915/15968/16044. Bears will get active below 15760 for a move back to 15698/15610. 15915 done above 15850 and we formed a double top and price saw an intraday correction with Tata Motors crashing down 10% as discussed in below video Venus has impact on tata motors once Monday low was breached it was a waterfall decline. We will have cabinet expansion tommrow till bulls are holding 15777-15800  range bulls have upper hand and rally can continue till 15864/15915/16000. Bears will get active below 15763 for a move towards 15729/15666/15610.
  • Total Future & Option trading volume at 47 Lakh core with total contract traded 1.05 lakh , PCR @0.85
  • Nifty July Future Open Interest Volume is at 0.95 Cores with addition of 2 Lakh with decrease in cost of carry suggesting SHORT position were added today, NF Rollover cost @15794 closed above it. 
  • 15900 CE is having Highest OI at 49.2 Lakh, resistance at 15900 followed by 16000. 15800-16000 CE added 24 Lakh in OI so bears added in range of 15900-16000. FII bought 27.9 K CE and 13.6 K CE were shorted by them. Retailers bought 120 K CE and 94 K CE were shorted by them.
  • 15600 PE OI@47.2 Lakhs having the highest OI strong support at 15600 followed by 15500. 15500-15700 PE added 12 Lakh in OI so bulls addded position in range 15600-15700. FII bought 22.9 K PE and 16.6 K PE were shorted by them. Retailers bought 97.6 K PE and 112 K PE were shorted by them.
  • FII’s sold 338 cores and DII’s bought 645 cores in cash segment.INR closed at 74.67

Buy Above 15831 Tgt 15864,15899 and 15933 (Nifty Spot Levels)

Sell Below 15763 Tgt 15729, 15700 and 15666 (Nifty Spot Levels)

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