Nifty July Expiry Analysis

  • FII’s sold 15.3 K contracts of Index Futures, worth 1262 cores; 861 Long contracts were liquidated by FII’s and 14.5 K Short contracts were added by FII’s. Net Open Interest increased by 13 K contracts, so a fall in Nifty was used by FII’s to exit longs and enter shorts in Index futures. FII’s Long to Short Ratio is at 0.88
  • As Discussed in Last Analysis; Bears will get active below 11300 for a move towards 11239/11194/11142. Bulls above 11343 can push towards 11400/11461/11525/11600. Nifty is doing a Price Time Squaring if 11301 is protected. Bears hit 1 target on the downside below 11300, till we are below 11300 bears have the upper hand and can push Nifty towards 11194/11125. Bulls will get active above 11300 for a move back to 11343/11400.

  • Nifty Aug Future Open Interest Volume is at 1 core with an addition of 20 Lakh and with an increase in the cost of carry suggesting long positions were added today, NF Rollover cost is @11841 and closed below it.
  • Total Future & Option trading volume at 15.69  Lakh cores, with total contracts traded at 1.66 lakh, PCR @0.86
  • 11400 CE is having a Highest OI at 37.6 Lakh, resistance at 11300, followed by 11400. 11300-11400 CE added 42 Lakh in OI, so bears added positions in the range of 11300-11400. FII bought 12.1 K CE and 2.3 K CE were shorted by them. Retail bought 52.3 K CE and 28.4 K CE were shorted by them.
  • 11300 PE OI is @22 Lakhs having the highest OI strong support at 11200 followed by 11300. 11200-11400 PE liquidated 1 Lakh in OI, so bulls covered positions in the range of 11200-11300. FII sold 24.9 K PE and 2.3 K PE were shorted by them. Retail bought 31.5 K PE and 4 K PE were shorted by them.

Buy above 11283 Tgt 11310,11336 and 11363 (Nifty Spot Levels)

Sell below 11252 Tgt 11230,11200 and 11173 (Nifty Spot Levels)

Upper End of Expiry:11346

Lower End of Expiry:11196