Nifty near important Resistance zone,EOD Analysis


  • FII’s sold 13.1 K contract of Index Future worth 1154 cores ,1.6 K Long contract were covered by FII’s and 11.8 K Short contracts were added by FII’s. Net Open Interest increased  by 10.4 K contract, so fall in market was used by FII’s to enter long and enter short in  Index futures.  FII’s Long to Short Ratio at 0.95, After Long time FII ratio dipped below 1 suggesting they are net short in Index Future, Longs need to be cautious as we trading below Rollover Range and TC Level.Honored to be part Online Trading Summit
  • As Discussed in Last Analysis  Nifty did 2 target on downside also took support near the gann angle suggesting we can make short term bottom, Bullish above 11503 for a move towards 11570/11610/11666. Bearish below 11393 for a move back to 11330/11270. Nifty made high of 11562 above 11503 almost did our 1 target, Now we are near important price resistance zone of 11570-11577 BUlls need to close above this level for the upmove to continue towards 11631/11670/11716/11760. Bears will get active below 11501 for a move back to 11461/11400/11330/11270. Important intraday time for reversal can be at 9:48/2:07. Bank Nifty held on to gann support range of 27225-27250,EOD Analysis

 

  • Nifty Sep Future Open Interest Volume is at 2.76 core with addition of 8 Lakh with decrease in  cost of carry suggesting short position were added today, NF Rollover cost @11747 and Rollover %@ 67
  • 11800 CE  is having Highest OI  at 41.6 Lakh, resistance at 11600 followed by 11700 .11500-11800 CE added 2.4 lakh in OI so bears  added position in range of 11500-11600 CE. FII bought 12.1 K CE and 2.3 K CE were shorted by them. Retail sold 197 K CE and 116 K shorted  CE were covered by them.

 

  • 11400 PE OI@44.6 Lakhs having the highest OI strong support at 11400 followed by 11300 . 11500-12000 PE added 12.7 Lakh in OI so bulls added position in range 11300-11400 PE. FII bought 18.7 K PE and 6.7 K  PE were shorted by them. Retail sold 43.8 K PE and 45.7 K shorted PE were covered  by them.
  • Total Future & Option trading volume at1 21  Lakh core with total contract traded at 1.55 lakh , PCR @0.82

 

  • FII’s bought 455  cores  and DII’s sold 611 cores in cash segment.INR closed at 71.98

 

Buy above 11550 Tgt 11570,11591 and 11616 (Nifty Spot Levels)

Sell below 11500 Tgt 11485,11460 and 11444 (Nifty Spot Levels)

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