Nifty forms NR21 Pattern,EOD Analysis

By | June 18, 2018

  • FII’s sold 6.9 K contract of Index Future worth 576 cores ,4.1 K Long contract were liquidated by FII’s and 2.8 K Short contracts were added by FII’s. Net Open Interest decreased  by 1.2 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 0.64. What is a reasonable objective for a day trader?
  • As Discussed in Last Analysis  Low made was 10755 so nifty whipsawed below 10777 , high made was 10834  so unable to cross 10846,Time is getting overbalance with nifty not giving move as per expectation, such scenario lead to an impulsive move. Fresh long should be taken above 10846 for a move towards 10888/10913. Bearish below 10777 for a move back towards 10730/10670. 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. Important intraday time for reversal can be at 11:45/2:02. Bank Nifty continue to trade below 26450,EOD Analysis

  • Nifty June Future Open Interest Volume is at 2.48 core with addition of 2.4 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 46.8 Lakh, resistance at 10900 followed by 11000 .10300-11000 CE added 9.6 lakh in OI so bears  added position in range of 10800-11000 CE. FII bought 699 CE and 7.8 K shorted CE were covered by them. Retail bought 44.3 K CE and 28.3 K CE were shorted by them.

 

  • 10700 PE OI@49.6 lakhs having the highest OI strong support at 10700 followed by 10600 . 10300-11000 PE  added 3.4 Lakh in OI so bulls covered position in range 10700-10800 PE. FII sol 1.6 K PE and 7.8 K shorted PE were covered  by them. Retail bought 42.2 K PE and 41.2 K PE were shorted by them.
  • Total Future & Option trading volume at 4.67 Lakh core with total contract traded at 0.76 lakh , PCR @0.97

 

  • FII’s sold 754 cores  and DII’s bought 824 cores in cash segment.INR closed at 67.98

 

Buy above 10810 Tgt 10835,10860 and 10888 (Nifty Spot Levels)

Sell below 10777 Tgt 10744,10720 and 10700 (Nifty Spot Levels)

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