Nifty Continue to rally heading in zone of resistance

• FII’s sold 1.3 K contract of Index Future worth 242 cores ,6.5 K  Long contract were added by FII’s and 7.8 K Short contracts were added by FII’s. Net Open Interest increased  by 14.4 K contract, so rise in market was used by FII’s to enter long and enter short in  Index futures.  FII’s Long to Short Ratio at 1.14. Dealing with Loss Aversion in Trading
  

• As Discussed in Last Analysis  Nifty Opened with a gap and now nearing our target of 11300, Bulls need to hold 10230 amid for the move towards 11376/11444. Bearish below 11200 for a move back to 11125/11060/10970. High made today was 11328 so bulls continue to hold 11230 and now heading  towards 113434/11396/ till we are holding 11230. Bulls need to start getting cautious as we are approaching the zone of resistance of 11376-11400 , where we can see profit booking. Bearish below 11230 only for a move back to 11185/11125/11060. Important intraday time for reversal can be at 12:43/2:42. Bank Nifty Continue to rally after breakout,EOD Analysis

• Nifty Aug Future Open Interest Volume is at 2.37 core with addition of 9.9 Lakh with increase in  cost of carry suggesting long position were covered today, NF Rollover cost @11149 closed above it.
  

• 11500 CE  is having Highest OI  at 28 Lakh, resistance at 11400 followed by 11500 .10500-11500 CE added 2.1 lakh in OI so bears  added position in range of 11400-11500 CE. FII bought 9.2 K CE and 1.2 K  shorted CE were covered by them. Retail bought 21.7 K CE and 22.9 K CE were shorted by them.

 

• 11000 PE OI@41.4 lakhs having the highest OI strong support at 11100 followed by 11000 . 10500-11500 PE added 16.9 Lakh in OI so bulls added position in range 10900-11000 PE. FII bought 1.4 K PE and 12.5 K PE were shorted by them. Retail bought 91.8 K PE and 54.6 K PE were shorted by them.

• Total Future & Option trading volume at 5.1 Lakh core with total contract traded at 0.83 lakh , PCR @1.01

 

• FII’s sold 234 cores  and DII’s bought 48 cores in cash segment.INR closed at 68.68
  

 

• Nifty Futures Trend Deciding level is 11319 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 11262. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level

Buy above 11343 Tgt 11370,11396 and 11411 (Nifty Spot Levels)

Sell below 11310 Tgt 11290,11270 and 11250 (Nifty Spot Levels)

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