Nifty Bulls close above 9610 ahead of Fed Policy

  • FII’s bought 1.7 K contract of Index Future worth 150 cores ,1.8 K Long contract were added by FII’s and 118 Short contracts were added by FII’s. Net Open Interest increased  by 2 K contract, so rise in market was used by FII’s to enter long and enter short in  Index futures. FII’s Long to Short Ratio increased to 3.16 suggesting decisive move round the corner. Trading is hard, very hard, damn hard
  • As discussed in last analysis  Nifty closed below 9610 but again failed to close below 9595 so we are in no trade zone, as we did not close below 9595 and closed above 9610, we are near gann angles, so big move expected in next 2 trading sessions. Bullish above 9610 for a move towards 9660/9720/9770. Bearish below 9595 for a move towards 9520/9480. Low made today was 9580 bears broke 9595 but failed to capitalize over it and bulls did a good job closing above 9610.Bullish above 9610 for a move towards 9660/9720/9770. Bearish below 9595 for a move towards 9520/9480.   Bank Nifty Bulls protect 23400 ahead of Fed Policy

  • Nifty June Future Open Interest Volume is at 2.14 core with liquidation of 3.3 Lakh with increase in  cost of carry suggesting short position were closed today, NF Rollover cost @9435 Closed above it.
  • Total Future & Option trading volume at 4  Lakh core with total contract traded at .78 lakh , PCR @1.15
  • 9700  CE  is having Highest OI  at 59.5 lakh, resistance at 9700 followed by 9800 .9300-9800 CE liquidated 12.5 Lakh in OI so bears covered position in 9600-9800 CE . FII sold 2.7 K CE longs and 3.7 K shorted CE were covered by them.Retail bought 7.7 K CE contracts and 13.5 K  CE were shorted  by them.
  • 9500 PE OI@72.5 lakhs having the highest OI strong support at 9500 followed by 9400. 9300-9800 PE added 9.4 Lakh in OI so bulls added position in 9300-9400 PE . FII bought 2.2 K PE and 4.9 K shorted PE were covered  by them. Retail bought 47.6 K PE contracts and 51.8 K PE were shorted by them.
  • FII’s sold 161 cores in Equity and DII’s bought 71 cores in cash segment.INR closed at 64.29

Buy above 9620 Tgt 9643,9669 and 9691 (Nifty Spot Levels)

Sell below 9585 Tgt 9562,9545 and 9520(Nifty Spot Levels)

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