Nifty Bounce Above 11610

  • FII’s sold 830 contract of Index Future worth 53 cores 6.7 K Long contract were added by FII’s and 7.6 K Short contracts were added by FII’s. Net Open Interest increased  by 14.4 K contract, so rise in Nifty was used by FII’s to enter long and enter short in  Index futures.FII’s Long to Short Ratio at 0.98
  • As Discussed in Last Analysis Nifty Bulls will again get active above 11610 for a move back to 11666/11730. Bears will become active below 11512 for a move back to 11461/11410. 16 is important date as per Neural Analysis. 11666 done above 11610 and bulls were able to close above 11625 also. Till we are above 11625 bulls have upper hand can push towards 11721-11730 range where next major resistance lies. Bears will become active below 11609 again for a move towards 11531/11461.

  • Nifty July Future Open Interest Volume is at 1.63 core with liquidation of 2.2 Lakh with  decrease in  cost of carry suggesting long position were closed today, NF Rollover cost @11841 closed below it.
  • Total Future & Option trading volume at 8.74 Lakh core with total contract traded at 1.08 lakh , PCR @0.88
  • 12000 CE  is having Highest OI  at 32.2 Lakh, resistance at 11700 followed by 11800 .11500-12000 CE liquidated 0.84 Lakh in OI so bears covered position in range of 11700-12000. FII bought 1.3 K CE long and 1 K shorted CE were covered by them. Retail bought 2.4 K CE and 11.5 K CE were shorted by them.
  • 11500 PE OI@22.2 Lakhs having the highest OI strong support at 11500 followed by 11400 . 11000-11700 PE added 4.4 Lakh in OI so bulls added position in range 11500-11600. FII bought 2.4 K PE long and 698 PE were shorted by them. Retail bought 99 K PE and 74.1 K PE were shorted by them.

Buy above 11670 Tgt 11697,11721 and 11743 (Nifty Spot Levels)

Sell below 11632 Tgt 11601,11574 and 11540 (Nifty Spot Levels)