Nifty Ready For A Big Move As Per Time Cycle

  • FII sold 21.5 K contracts of Index Futures worth 1633 cores, Net OI has increased by 13.9  K contracts, 3.8 K Long contracts were covered by FII and 17.7 K shorts were added by FII. Net FII Long to Short ratio is at 0.29, So FII used the fall to cover longs and enter shorts.
  • As Discussed in Last Analysis;  Bulls were able to hit 11055 above 11010 and now waiting for the next targets of 11100 and 11141, Bears have the chance only below 11030 for a move back to 10943/10890. A high was made at 11053, so bulls were unable to break 11100, and bears got active below 11030 but failed to hit the target of 10943. Nifty has formed an Inside day candle, and Nifty Bulls need to move above 11010 for a move back to 11052/11100/11141. Bears will get active below 10943 for a move back to 10890/10843. As per time cycle we should see another big move in Nifty in the next 2 days.

  • Total Future & Option trading volume is at 10.16 Lakh cores, with total contracts traded at 1.60 lakh, PCR @0.86.
  • Nifty Sep Future Open Interest Volume is at 1.75 cores, with addition of 7.6 Lakh and with an increase in the cost of carry, suggesting long positions were added today, NF Rollover cost @11050 and closed above it.
  • 11200 CE is having a Highest OI at 31 Lakh, resistance at 11200, followed by 11300. 10600-11200 CE added 14.2 Lakh in OI, so bears added positions in the range of 11100-11200. FII Bought 841 CE Long and 11.7 K CE were shorted by them. Retails Bought 174 K CE and 88 K CE were shorted by them. 
  • 10800 PE OI@30.2 Lakhs having the highest OI strong support at 10800 followed by 10700. 10600-11200 PE liquidated 4.2 Lakh in OI so bulls covered positions in the range of 10800-11100. FII Bought 25.3 K PE Long and 1.8 K PE were shorted by them. Retails sold 33 K PE and 13.6 K PE were shorted by them. 
  • FII’s sold 751 cores and DII’s bought 308 cores in cash segment. INR closed at 71.70

Buy above 11010 Tgt 11031,11052 and 11080 (Nifty Spot Levels)

Sell below 10963 Tgt 10945,10920 and 10890 (Nifty Spot Levels)