Nifty give relif rally from 11250,Will it last ?


  • FII’s sold 3.8 K contract of Index Future worth 391 cores ,4.9 K Long contract were covered by FII’s and 1.1 K Short contracts were covered by FII’s. Net Open Interest decreased  by 6.1 K contract, so fall in market was used by FII’s to exit long and exit short in  Index futures.  FII’s Long to Short Ratio at 0.74. Sneak Peek into Online Trading Summit
  • As Discussed in Last Analysis Time is the 3-D factor in stock market once understood trading gets an additional edge, We were short from 11527 and captured the whole move till 11270, Low made was 11274:). Now any move below 11270 can see fast mvoe towards 11230/11160 where we should get support and see relief rally. Low made was 11250 and we saw the relief rally, Now bulls need a close above 11458 for this up move to continue in case we open gap up tommrow. Bearish below 11350 for a move back to 11280/11230/11159. Bullish above 11458 for a move back to 11520/11570/11630.
  • Important intraday time for reversal can be at 11:14/1:49. Bank Nifty Bulls able to close above 26640,EOD Analysis

 

 

  • Nifty Sep Future Open Interest Volume is at 2.71 core with liquidation of 6 Lakh with decrease in  cost of carry suggesting short position were closed  today, NF Rollover cost @11747 and Rollover %@ 67
  • 11600 CE  is having Highest OI  at 36.4 Lakh, resistance at 11400 followed by 11500 .11000-11800 CE liquidated 3.5 lakh in OI so bears  covered position in range of 11500-11400 CE. FII bought 3 K CE and 7.2K CE were shorted by them. Retail sold 206 K CE and 126 K shorted   CE were covered by them.

 

  • 11200 PE OI@38 Lakhs having the highest OI strong support at 11200 followed by 11100 . 11000-11600 PE liquidated 0.99 Lakh in OI so bulls covered position in range 11300-11400 PE. FII sold 7.1 K PE and 8.2 K  shorted  PE were covered by them. Retail sold 16.6 K PE and 51.3 K shorted PE were covered  by them.
  • Total Future & Option trading volume at1 22 Lakh core with total contract traded at 1.57 lakh , PCR @0.76

 

 

Buy above 11420 Tgt 11458,11480 and 11510 (Nifty Spot Levels)

Sell below 11360 Tgt 11333,11300 and 11270 (Nifty Spot Levels)

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