Nifty Hold to 11896-11910 Range

  • FII’s sold 9.8 K contract of Index Future worth 947 cores 4.9 K Long contract were added by FII’s and 14.8 K Short contracts were added by FII’s. Net Open Interest increased  by 19.8 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 0.96.
  • As Discussed in Last Analysis Nifty Bulls now need to hold 11896-11910 zone for the upmove to continue towards 12000/12041/12100. Bears will become active below 11810 for a move back to 11777/11721/11666/11610.
  • Nifty did a whipsaw today as per intraday level but was able to close above 11910 range. Nifty Bulls now need to hold 11896-11910 zone for the upmove to continue towards 12000/12041/12100. Bears will become active below 11810 for a move back to 11777/11721/11666/11610.

  • Nifty June Future Open Interest Volume is at 1.04 core with addition  of 2.64 Lakh with  increase in  cost of carry suggesting long position were added today, NF Rollover cost @11742,closed above it.
  • Total Future & Option trading volume at 9.82 Lakh core with total contract traded at 1.44 lakh , PCR @0.99
  • 12000 CE  is having Highest OI  at 40.4 Lakh, resistance at 12000 followed by 12100 .11000-11800 CE added 10.9 Lakh in OI so bears added position in range of 11800-12000. FII sold 16.8 K CE and 8.5 K shorted  CE were covered by them. Retail bought 40.7 K CE and 33.3 K CE were shorted by them.
  • 11700 PE OI@26.4 Lakhs having the highest OI strong support at 11700 followed by 11600 . 11000-11700 PE added 6.5 Lakh in OI so bulls added huge position in range 11500-11600. FII bought 10.9 K PE and 12.2 K PE were shorted by them. Retail bought 6.9 K PE and 23.7 K PE were shorted by them.

Buy above 11940  Tgt 11957,11994 and 12021 (Nifty Spot Levels)

Sell below 11906  Tgt 11885,11849 and 11830  (Nifty Spot Levels)