Nifty Crashes On Mercury Ingress Date

  • FII’s sold 8.6 K contract of Index Future worth 1 K cores 6.6 K Long contract were added by FII’s and 2 K Short contracts were added by FII’s. Net Open Interest decreased  by 4.5 K contract, so fall  in Nifty was used by FII’s to enter long and exit short in  Index futures. FII’s Long to Short Ratio at 1.01.
  • As Discussed in Last Analysis Tomorrow is important astro date. Bears will become active below 11570 for a move back to 11512/11460. Bulls will become active above 11625 for a move back to 11666/11731. All Bearish target done,Now bulls need to hold 11340-11370 range for the correction to come to an halt and continue up move towards 11478/11530/11570. Bears will get active below 11318 for a move back to 11265/11212.

  • Nifty July Future Open Interest Volume is at 1.51 core with liquidation of 4.8 Lakh with  increase in  cost of carry suggesting short position were added today, NF Rollover cost @11841 closed below it.
  • Total Future & Option trading volume at 11.25 Lakh core with total contract traded at 1.60 lakh , PCR @0.94
  • 11700 CE  is having Highest OI  at 34.4 Lakh, resistance at 11700 followed by 11800 .11500-12000 CE added 77 Lakh in OI so bears added position in range of 11600-11800.FII sold 2.8 K CE and 21.9K CE were shorted by them. Retail bought 255 K CE and 161 K CE were shorted by them.
  • 11300 PE OI@30 Lakhs having the highest OI strong support at 11300 followed by 11400 . 11000-11700 PE added 11.2 Lakh in OI so bulls added position in range 11300-11400.FII bought 21.2 K PE and 9.3 K PE were shorted by them. Retail bought 38.7 K PE and 55 K PE were shorted by them.

Buy above 11425 Tgt 11452,11478 and 11500 (Nifty Spot Levels)

Sell below 11371 Tgt 11340,11318 and 11289 (Nifty Spot Levels)