Nifty does 9520 above 9410 in impulsive manner

  • As discussed in last analysis   Nifty opened at 9410, made high of 9431 but it triggered the sl for traders who went long but shorts are active as we again closed below 9390 so we can go towards the target of 9320/9280. Bullish on close above 9410 for a move towards 9460/9530. Nifty failed to do 9320 but once it moved above 9410 bulls were having upper hand and pushed index to do both target 9460/9530 high made was 9523. Now Bulls need a close above 9530 for next moved towards 9610/9666. Bearish below 9460 for a moved towards 9410/9370  Bank Nifty hits 23250 Holding 22740, What to expect in June Series

  • Nifty June Future Open Interest Volume is at 1.91 core with addition of 51 Lakh with decrease in  cost of carry suggesting short position were added today, NF Rollover cost @9435 Closed above it.
  • Total Future & Option trading volume at 12.2 Lakh core with total contract traded at 2.1 lakh , PCR @0.96

 

  • FII’s bought 589  cores in Equity and DII’s sold 236 cores in cash segment.INR closed at 64.62

Buy above 9525 Tgt 9550,9565 and 9580 (Nifty Spot Levels)

Sell below 9490 Tgt 9470,9450 and 9425 (Nifty Spot Levels)

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