FII sold 3.8 K contract of Index Future worth 322 cores, Net OI has increased by 1.6 K contract 1 K Long contract were covered by FII and 2.7 K Shorts were added by FII. Net FII Long Short ratio at 1.95 so FII used rise to exit longs and enter shorts.
As discussed in Last AnalysisBulls did 2 target on upside,now till we are holding 16309 bulls can rally towards 16417/16489. Bears have chance below 16289 for a move back to 16225/16162. We have venus Declination tommrow suggesting we could see big move in bank nifty as Venus has impact on both nifty and bank nifty. Now Bulls need to hold 16535-16555 range for a move back to 16610/16655/16729. Bears will get active below 16499 for a move towards 16435/16377
Total Future & Option trading volume at 99.5 Lakh core with total contract traded 0.88 lakh , PCR @0.98
Nifty August Future Open Interest Volume is at 1.34 Cores with liqudiation of 1.7 Lakh with decrease in cost of carry suggesting LONG position were closed today, NF Rollover cost @15791 closed above it.
16600 CE is having Highest OI at 21.2 Lakh, resistance at 16600 followed by 165700. 16500-16700 CE added 12 Lakh in OI so bears added in range of 16400-16500.FII bought 24.8 K CE and 13.1 K CE were shorted by them. Retailers bought 250 K CE and 213 K CE were shorted by them.
16400 PE OI@31.9 Lakhs having the highest OI strong support at 16400 followed by 16300. 16200-16400 PE added 12 Lakh in OI so bulls addded position in range 16300-16400. FII bought 19.7 K PE and 22.4 K PE were shorted by them. Retailers 208 K PE and 207 K shorted PE were shorted by them.
FII’s sold 1088 cores and DII’s bought 506 cores in cash segment.INR closed at 74.35