Nifty Analysis for July Monthly Closing

FII bought 7.2 K contract of Index Future worth 538 cores, Net OI has decreased by 62 K contract, 18.4 K Long contract were covered by FII and 44.5 K Shorts were covered by FII. Net FII Long Short ratio at 1.96, So FII used fall to exit longs and exit shorts.

As discussed in last analysis We formed a perfect OUTSIDE BAR singalling volatile move coming as we approach montly expiry and monthly closing. Bulls need to move above 11236 for a move back to 11289/11343/11400. Bears will get active below 11181 for a move back to 11131/11078/11025.Nifty bears have broken gann line as shown in below chart,and we have monthly close tommorw Bulls and Bears will fight for 11000-11008. Nifty Bulls need to move above 11150 for a move towards 11192/11241. Bears will get active below 11051 for a move towards 11000/10955/10870.

Intraday time for reversal can be at 9:47/10:57/11:36/1:30/2:24How to Find and Trade Intraday Reversal Times

Total Future & Option trading volume at 44 Lakh core with total contract traded at 1.62 lakh , PCR @0.84

Nifty Aug Future Open Interest Volume is at 1.04 Cores with addition of 27 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @11197 closed below it.

11300 CE is having Highest OI at 10 Lakh, resistance at 11300 followed by 11400.11000-11300 CE added 29 Lakh in OI so bears added in range of 11200-11300.

11000 PE OI@10 Lakhs having the highest OI strong support at 11000 followed by 10900. 11000-11300 PE liqudiated 15 Lakh in OI so bulls covered position in range 11000-11100.