Nifty heading to new life high holding Low of Time Cycle

By | June 19, 2017

  • FII’s bought 2.2 K contract of Index Future worth 145 cores ,743 Long contract were liquidated by FII’s and 2.9 K Short contracts were liquidated by FII’s. Net Open Interest decreased  by 3.6 K contract, so rise in market was used by FII’s to exit long and exit short in  Index futures. As discussed in last analysis  FII’s Long to Short Ratio maintained at 2.9 double bottom in FII Long to Short Ratio. Nifty made bottom on Friday and saw a good rally today.  The Missing Watch
  • As discussed in last analysis   17 June is important trend change date as per geometric time cycle as it being holiday we should see effect either tomorrow or Monday.  Nifty continue to close below gann angle, but in the process formed an Inside bar pattern. Bullish above 9610 for a move towards 9660/9720/9770. Till we are closing below 9595 bears have upper hand and can push 9520/9480.As we discussed 17 June is important trend change day so low made on Friday is important ie.9565 holding the same we can continue to move higher towards our target. Nifty opened above 9610 and continued with its rally doing the 1 target of 9660 after forming bottom on Friday as per Geometric Time Cycle. Bulls now need to close above 9674 Gann angle for a move towards 9720. Close above 9720 is very very important for next move towards 9790/9860. Bearish below 9565 for a move towards 9520/9480. Bank Nifty Bounces 350 points from Time Cycle Low

  • Nifty June Future Open Interest Volume is at 2.11 core with liquidation of 0.95 Lakh with increase in  cost of carry suggesting short position were added today, NF Rollover cost @9435 Closed above it.
  • Total Future & Option trading volume at 4.29 Lakh core with total contract traded at .95 lakh , PCR @1.01
  • 9700  CE  is having Highest OI  at 65.7 lakh, resistance at 9700 followed by 9800 .9300-9800 CE liquidated 40 Lakh in OI so bears covered major position in 9600-9800 CE . FII bought 4.7 K CE longs and 15.3  K shorted CE were covered  by them.Retail sold 39.3 K CE contracts and 19.2 K  shorted  CE were covered by them.
  • 9500 PE OI@63.1 lakhs having the highest OI strong support at 9500 followed by 9400. 9300-9800 PE added  10.6 Lakh in OI so bulls added position in 9300-9400 PE . FII sold 2 K PE and 7.8 K PE were shorted by them. Retail bought 66.5 K PE contracts and 31.7 K PE were shorted by them.
  • FII’s sold 250 cores in Equity and DII’s bought 530 cores in cash segment.INR closed at 64.33

Buy above 9670 Tgt 9685,9700 and 9720 (Nifty Spot Levels)

Sell below 9642 Tgt 9623,9605 and 9580(Nifty Spot Levels)

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