Nifty Rallies 200 Points Holding Gann Date Low

  • FII bought 2.4 K contracts of Index Futures worth 621 cores, Net OI has decreased by 3.3 K contracts, 407 Long contracts were covered by FII and 2.8 K shorts were covered by FII. Net FII Long to Short ratio at 0.44, so FII used the fall to exit longs and exit  shorts.
  • As Discussed in Last Analysis; Bulls need to see rise above 10870 for a move back to 10950/11060. Bears will get active below 10770 for a move back to 10730/10666/10610, 23 was a Gann Natural Date so holding this low we can see a good rally only if we close above 10909. We did not break the Gann Date low and rallied above 10870 towards 11060. Now Bulls need to move above 11100 for a move towards 11146/11200. Bears will get active below 11000 for a move back to10943/10890.

  • Total Future & Option trading volume is at 10.43 Lakh cores with the total contracts traded at 2.14 lakh, PCR @0.70.
  • Nifty Aug Future Open Interest Volume is at 1.69 cores with a liquidation of 11.1 Lakh with a decrease in the cost of carry suggesting long positions were closed today, NF Rollover cost is @11355 closed below it.
  • 11100 CE is having a Highest OI at 31.5 Lakh, resistance at 11100 followed by 11200. 10600-11100 CE liquidated 34 Lakh in OI, so bears covered positions in the range of 11000-11200. FII Bought 19.1 K CE Contracts and 27.1 K shorted CE were covered by them, Retailers sold 61.4 K CE, and 19 K shorted CE were covered by them.
  • 11000 PE OI is @34 Lakhs having the highest OI strong support at 11000 followed by 10900. 10600-11200 PE added 49 Lakh in OI so bulls added positions in the range of 10800-11100. FII bought 8.2 K PE contracts and 25 K PE were shorted by them, Retailers bought 205 K PE and 119 K PE were shorted by them.
  • FII’s sold 752 cores and DII’s bought 1272 cores in cash segment. INR closed at 71.99

Buy above 11070 Tgt 11100,11122 and 11149  (Nifty Spot Levels)

Sell below 11016 Tgt 10989,10964 and 10937 (Nifty Spot Levels)