Nifty Bulls gain strength above 8111,Will we see follow up move ?


  • FII’s sold 12.3 K contract of Index Future worth 791 cores ,2.7 K Long contract were added by FII’s and 15 K short contracts were added by FII’s. Net Open Interest increased  by 17.7 K  contract, so rise in market was used by FII’s to enter long and enter shorts  in  Index futures.How to deal with Negative Emotions in Day Trading
  •  As discussed in Yesterday Analysis   For next 4 days 8111 will play a important role on upside and 7972 on downside, breaking any one of the levels can see move 8210/8241 on upside and 7921/7777 on downside. High made today was 8146,and closed above 8111. Now we need to get the follow upmove in next 2 trading session till 8200/8270 else market can again whipsaw long trades above 8111. Trading below 8050  can see quick fall towards 7972/7921 as shown in below chart. Will Bank Nifty close above top of gann arc,EOD Analysis

nifty gann line resistance

  • Nifty June Future Open Interest Volume is at 1.07  core with liquidation of 13.6 Lakh with increase in cost of carry suggesting short position were closed today, NF  Rollover cost @7961 closed above it
  • 8300  CE  is having Highest OI  at 60.3 lakh, resistance at 8300 .8000/8600 CE  added 3.5 lakh so bears forming resistance at higher levels 8200-8300 zone  .FII bought 13 K CE longs and 5 CE were shorted by them .Retail bought 13 K CE contracts and 22.7 K CE were shorted by them.
  • 8000 PE OI@71.6 lakhs having the highest OI strong support at 8000. 8000-8600 PE added 13.7 Lakh in OI so bulls making strong base near 7900-8000 zone .FII bought 11 K PE longs  and 830  PE were  shorted by them .Retail bought 33.8 K PE contracts and 19.2 K PE were shorted by them.
  • FII’s sold 146 cores in Equity and DII’s sold 147 cores in cash segment.INR closed at 67.93

Buy above 8155 Tgt 8180,8200 and 8215 (Nifty Spot Levels)

Sell below 8111 Tgt 8095,8060 and 8030 (Nifty Spot Levels)

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