FII sold 2.5 K contract of Index Future worth 287 cores, Net OI has increased by 9.2 K contract 3.1 KLong contract were added by FII and 6.1 K Shorts were addedby FII. Net FII Long Short ratio at 1.92 so FII used rise to enter longs and enter shorts.
As discussed in Last AnalysisIt was a day of whipsaw both bulls and bears unable to complete the target and price contine to face resistance at gann angle, No change in plan, Bulls need to move above 16281 for a move towards 16332/16396/16461/16554. Bears will get active below 16225 for a move back to 16141/16078/16015. High made was 16359 so bulls were able to achieve 1 target on upside before intraday correction came in but intraday recovery led to close above 16280 again. Till we are holding 16281 bulls can rally towards 16332/16396/16461/16554. Bears will again get active below 16225 for a move back to 16141/16078/16015. Today we are Mercury going to Virgo in evening and Mars Sqaure North Node or Rahu suggesting big trending move should be seen either today or tommrow.
Total Future & Option trading volume at 31.2 Lakh core with total contract traded 1.27 lakh , PCR @0.91
Nifty August Future Open Interest Volume is at 1.27 Cores with addition of 3 Lakh with increase in cost of carry suggesting SHORT position were added today, NF Rollover cost @15791 closed above it.
16300 CE is having Highest OI at 52.1 Lakh, resistance at 16300 followed by 16400. 16000-16300 CE added 12 Lakh in OI so bears added in range of 16100-16200.FII bought 71.4 K CE and 70.7 K CE were shorted by them. Retailers bought 191 K CE and 48 K CE were shorted by them.
16200 PE OI@34.2 Lakhs having the highest OI strong support at 16200 followed by 16100. 16000-16200 PE added 22 Lakh in OI so bulls addded position in range 16000-16100. FII bought 33.6 K PE and 42.8 K PE were shorted by them. Retailers bought 114 K PE and 469 K shorted PE were shorted by them.
FII’s sold 178 cores and DII’s bought 689 cores in cash segment.INR closed at 74.51