Good Morning
Index is now moving to our 2nd Target i.e. 11k we have given this when Nifty at 10180 on 9th June.
Y'day also we have taken 60 Point gain in Index Option.
Now for today the only Net Positive Position in Index that is FII. FII was net buyers in CM i.e. 350Cr. In Derivatives FII added 6.4k Index Long in NF & Covered 1.7k Shorts in BNF, in stock futures 9k Longs & 210 Shorts, in Options FII added 32k Call Long with 25k Put Shorts & 19k Put Long with 17k Call Shorts suggest bullish setups.
Pros added 922 Index Longs in Nifty & covered 1.4k Shorts in BNF, in options 30k Call Long with 60k Put Shorts & 37k Call Shorts with 18k put Long suggest that index will have limited downside & will consolidate at 11k before Weekly Expiry.
For today Nifty is on Bearish Bat Pattern & need to cross 10813/15 for further move. So wait till clear signal.