Venus Declination Impact on Nifty

• FII sold 3.8 K contract of Index Future worth 322 cores, Net OI has increased by 1.6 K contract 1 K Long contract were covered by FII and 2.7 K Shorts were added by FII. Net FII Long Short ratio at 1.95 so FII used rise to exit longs and enter shorts.

• As discussed in  Last Analysis  Bulls did 2 target on upside,now till we are holding 16309 bulls can rally towards 16417/16489. Bears have chance below 16289 for a move back to 16225/16162. We have venus Declination tommrow suggesting we could see big move in bank nifty as Venus has impact on both nifty and bank nifty. Now Bulls need to hold 16535-16555 range  for a move back to 16610/16655/16729. Bears will get active below 16499 for a move towards 16435/16377

• Intraday time for reversal can be at  9:15/11:45/12:55/1:36/2:35  How to Find and Trade Intraday Reversal Times

• Total Future & Option trading volume at 99.5 Lakh core with total contract traded 0.88 lakh , PCR @0.98

• Nifty August Future Open Interest Volume is at 1.34 Cores with liqudiation of 1.7 Lakh with decrease in cost of carry suggesting LONG position were closed today, NF Rollover cost @15791 closed above it. 

• 16600 CE is having Highest OI at 21.2 Lakh, resistance at 16600 followed by 165700. 16500-16700 CE added 12 Lakh in OI so bears added in range of 16400-16500.FII bought 24.8 K  CE and 13.1 K CE were shorted by them. Retailers bought 250 K CE and 213 K CE were shorted by them.

• 16400 PE OI@31.9 Lakhs having the highest OI strong support at 16400 followed by 16300. 16200-16400 PE added 12 Lakh in OI so bulls addded position in range 16300-16400. FII bought 19.7 K PE and 22.4 K PE were shorted by them. Retailers 208 K PE and 207 K shorted PE were shorted by them.

• FII’s sold 1088 cores and DII’s bought 506 cores in cash segment.INR closed at 74.35

• Nifty Futures Trend Deciding level is 16533 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 16192 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level

Buy Above 16590 Tgt 16610, 16640 and 16666 (Nifty Spot Levels)

Sell Below 16535 Tgt 16500, 16475 and 16435 (Nifty Spot Levels)