Nifty Back To Gann Angle Support

  • FII bought 12.8 K contracts of Index Futures worth 592 cores, Net OI has increased by 12.3 K contracts, 12.5 K Long contracts were added by FII and 246 shorts were covered by FII. Net FII Long to Short ratio is at 0.37, So FII used the fall to enter longs and cover shorts.
  • As Discussed in Last Analysis;  Nifty Bulls need to move above 11010 for a move back to 11052/11100/11141. Bears will get active below 10943 for a move back to 10890/10843. As per time cycle, we should see another big move in Nifty in the next 2 days. Bears were on a roll and we saw a big fall as discussed in neural analysis. Now we can see a relief rally in the market above 10848 for a move back to 10900/10952/11000. Bears have chances there only below 10771 for a move back to 10719/10667.

  • Total Future & Option trading volume at 13.66 Lakh core with total contracts traded at 1.93 lakh, PCR @0.87
  • Nifty Sep Future Open Interest Volume is at 1.93 core with the addition of 3.1 Lakh, with an increase in the cost of carry suggesting long positions were added today, NF Rollover cost is @11050, and closed above it.
  • 11100 CE is having a Highest OI at 34 Lakh, resistance at 11100, followed by 11200. 10600-11200 CE added 30 Lakh in OI, so bears added positions in the range of 11100-11200. FII sold 8.7 K CE Longs and 27 K CE were shorted by them. Retails Bought 271 K CE and 130 K CE were shorted by them. 
  • 10800 PE OI @36.1 Lakhs and is having the highest OI strong support at 10800 followed by 10700. 10600-11200 PE added 2.2 Lakh in OI so bulls added positions in the range of 10800-11100. FII Bought 40.3 K PE Longs and 12.6  K PE were shorted by them. Retails sold 99 K PE and 46.7 K PE were shorted by them. 
  • FII’s  sold 808 cores and DII’s bought 85 cores in the cash segment. INR closed at 71.89

Buy above 10848 Tgt 10871,10890 and 10920 (Nifty Spot Levels)

Sell below 10790 Tgt 10771,10746 and 10721 (Nifty Spot Levels)