Nifty Bulls continue to Hold Gann Angle,EOD Analysis

  • FII’s sold 1.4 K contract of Index Future worth 106 cores ,4.4 K Long contract were added by FII’s and 5.9 K Short contracts were added by FII’s. Net Open Interest increased  by 10.3 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 fall sharply to 5.4 How Jesse Livermore Described Trading emotions
  • As discussed in last analysis   Nifty saw small correction today and closed just near the gann angle also also near the lower end of range at 9640, bulls need to hold the gann angle for upmove to continue towards 9750/9790. Bearish below 9610 for a move towards 9530/9480. Low made today was again 9630 near the gann angle, and again we saw bulls coming back, and closing above 9663 forming long legged doji. Till Bulls close above gann angle they have upper hand an\d can push nifty towards 9750/9790. Bearish below 9610 for a move towards 9530/9480.  As per Geometric Time Cycle big move can be seen in market in next 2 days. Bank Nifty does 23600 holding gann angle, EOD Analysis

  • Nifty June Future Open Interest Volume is at 2.20 core with addition of 4.4 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 4.41 Lakh core with total contract traded at 0.79  lakh , PCR @1.01
  • 9700  CE  is having Highest OI  at 51 lakh, resistance at 9700 followed by 9800 .9300-9800 CE liquidated 1.3 Lakh in OI so bears covered position in 9700-9800 CE. FII bought 3.5 K CE longs and 1.1 K CE were shorted by them.Retail bought 20.6 K CE contracts and 13.5 K  CE were shorted  by them.
  • 9500 PE OI@64.4 lakhs having the highest OI strong support at 9500 followed by 9400. 9300-9800 PE added 9.6 Lakh in OI so bulls added position in 9300-9400 PE . FII bought 4.1 K PE and 2.5 K PE were  shorted by them. Retail bought 61.5 K PE contracts and 47.7 K PE were shorted by them.
  • FII’s bought 73 cores in Equity and DII’s bought 166 cores in cash segment.INR closed at 64.33

Buy above 9685 Tgt 9705,9732 and 9760 (Nifty Spot Levels)

Sell below 9650 Tgt 9630,9600 and 9580(Nifty Spot Levels)

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