Nifty Post Budget Day Analysis

FII’s sold 7.6 K contract of Index Future worth 672 cores 83 Long contract were added by FII’s and 7.6 K Short contracts were added by FII’s. Net Open Interest increased by 7.7 K contract, so fal in Nifty was used by FII’s to exit long and enter short in Index futures.FII’s Long to Short Ratio at 1.37 How Comfortable you are with your trading ?

As Discussed in Last Analysis Bulls need to move above 11993 for a move towards 12043/12100. Bears will get active below 11883 for a move back to 11830/1175/11750/11700. Harmonic Study worked perfectly as High made was 11981 and we almost reached our 1 target of 11775 as low made was 11798. Now Bulls need to close above 11850 for a move back to 11923/11993/12040. Bears will become active below 11763 for a move back to 11710/11666/11610.08 Jul is important time cycle date.

Important intraday time for reversal can be at 9:40/10:32/11:47/1:57 How to Find and Trade Intraday Reversal Times

Nifty July Future Open Interest Volume is at 1.80 core with addition of 1.34 Lakh with decrease in cost of carry suggesting short position were closed today, NF Rollover cost @11841 closed below it.

Total Future & Option trading volume at 10.46 Lakh core with total contract traded at 1.85 lakh , PCR @0.79

12000 CE is having Highest OI at 23.1 Lakh, resistance at 12000 followed by 12100 .11500-12000 CE added 8.9 Lakh in OI so bears added position in range of 11900-12000..FII bought 7.6 K CE long and 10.8 K CE were shorted by them. Retail bought 249 K CE and 170 K CE were shorted by them.

11500 PE OI@16 Lakhs having the highest OI strong support at 11600 followed by 11550 . 11000-11700 PE added 1.34 Lakh in OI so bulls added position in range 11700-11800.FII bought 17.3 K PE long and 13.7 K PE were shorted by them. Retail bought 101 K PE and 106 K PE were shorted by them.

FII’s sold 89 cores and DII’s bought 275 cores in cash segment.INR closed at 68.40 Dollar to Rupee Forecast Lok Sabha Election Week

Nifty Futures Trend Deciding level is 11902 For Intraday Traders). NF Trend Changer Level (Positional Traders) 11916 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level