- Nifty reacted from the zone of support as shown in below chart, took support near 20 SMA for 2 day in row. Nifty has also been holding Murry Math Line as shown in the 2 chart suggesting buying coming at lower level. The May expiry nifty move only 137 points from expiry close to expiry close suggesting June month we can see good trending move. Last 2 expiry has been good for Option Writers, JUne can be a good month for option Buyers. As per time analysis after 14 June Bulls can have upper hand over bear We are seeing sideways correction with strong base at 8000 levels. Move above 8364 can see nifty moving towards 8420 odd levels. Move below 8270 can see 8180 odd levels. Below 8320 Fibo Retracement are at 8262/8197 levels.Disposition Effect: Why Retail traders Lose in Stock Market
- Nifty June Future Open Interest Volume is at 1.29 core , 1 cores added in June Series, rollovers stands at just 66% at price of 8336.
- Total Future & Option trading volume was at 5.52 core with total contract traded at 5.5 lakh. PCR @0.91
- 8500 CE OI at 21.7 lakh , wall of resistance @ 8500 .8100/8400 CE added 13.4 lakh.
- 8000 PE OI@ 38.2 lakhs so strong base @ 8300. 8000/8600 PE added 22.1 lakh so initial range for Nifty comes @8000-8500.
- FII’s sold 792 cores in Equity and DII’s bought 683 cores in cash segment.INR closed at 63.79
- Nifty Futures Trend Deciding level is 8319 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8319 and BNF Trend Deciding Level 18511 (For Intraday Traders) BNF Trend Changer Level (Positional Traders) 18511 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 8325 Tgt 8365,8383 and 8412 (Nifty Spot Levels)
Sell below 8270 Tgt 8225,8200 and 8176 (Nifty Spot Levels)