Nifty continue correction on Time Cycle Date,EOD Analysis

By | June 20, 2018

  • FII’s sold 8.8 K contract of Index Future worth 710 cores ,1.7 K Long contract were liquidated by FII’s and 7.1 K Short contracts were added by FII’s. Net Open Interest increased  by 5.4 K contract, so fall in market was used by FII’s to exit long and enter short in  Index futures.  FII’s Long to Short Ratio at 0.61. What is a reasonable objective for a day trader?
  • As Discussed in Last Analysis Nifty today formed inside bar patter and also NR21 pattern lowest range seen in last 21 trading days suggesting range expansion should come and else we have time getting overbalanced. Fresh long should be taken above 10846 for a move towards 10888/10913. Bearish below 10777 for a move back towards 10730/10670. 19 is an important time cycle date. High made today was 10789 so nifty bears were on frontfoot as we were below 10777 and did 1 target on downside.Below 10700 we can continue to see fall towards 10666/10617 where we have gann angle support, Again time analysis helped in capturing the move as fall came exactly on 19 June. Bullish above 10740 for a move back to 10777/10830.Important intraday time for reversal can be at 11:27/3. Bank Nifty continue to trade below 26450,EOD Analysis

  • Nifty June Future Open Interest Volume is at 2.47 core with liquidation of 1.38 Lakh with decrease in  cost of carry suggesting short position were added today, NF Rollover cost @10656 closed above it.
  • 11000 CE  is having Highest OI  at 53.3 Lakh, resistance at 10900 followed by 11000 .10300-11000 CE added 22.2 lakh in OI so bears  added position in range of 10800-11000 CE. FII bought 4 K CE and 12.3 K CE were shorted by them. Retail bought 63.1 K CE and 23.4 K CE were shorted by them.

 

  • 10700 PE OI@48 lakhs having the highest OI strong support at 10700 followed by 10600 . 10300-11000 PE  liquidated 7.8 Lakh in OI so bulls covered position in range 10700-10800 PE. FII bought 31.3 K PE and 1.9 K PE were shorted by them. Retail sold 10.8 K PE and 20.3 K PE were shorted by them.
  • Total Future & Option trading volume at 6.67 Lakh core with total contract traded at 0.76 lakh , PCR @1.01

 

  • FII’s sold 1324 cores  and DII’s bought 653 cores in cash segment.INR closed at 68.38

 

Buy above 10733  Tgt 10750,10766 and 10789 (Nifty Spot Levels)

Sell below 10690 Tgt 10666,10645 and 10620 (Nifty Spot Levels)

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