Nifty Continue to close below Gann Angle,EOD Analysis

  • FII’s sold 3.6 K contract of Index Future worth 276 cores ,6.2 K Long contract were liquidated by FII’s and 2.6 K Short contracts were liquidated by FII’s. Net Open Interest decreased  by 8.8 K contract, so rise in market was used by FII’s to exit long and exit short in  Index futures. FII’s Long to Short Ratio maintained at 2.9 double bottom in FII Long to Short Ratio. The Missing Watch
  • As discussed in last analysis   Low made today was 9560 bears broke 9595 and finally closed below it and can push towards 9520/9480. Bullish above 9610 for a move towards 9660/9720/9770. As seen in below chart, nifty has done 2 time whipsaw at gann angle and shown a impulsive move on upside. Will it be repeated again ? 17 June is important trend change date as per geometric time cycle as it being holiday we should see effect either tomorrow or Monday.  Nifty continue to close below gann angle, but in the process formed an Inside bar pattern. Bullish above 9610 for a move towards 9660/9720/9770. Till we are closing below 9595 bears have upper hand and can push 9520/9480.As we discussed 17 June is important trend change day so low made on Friday is important ie.9565 holding the same we can continue to move higher towards our target.   Bank Nifty bounce from Gann Angle,EOD Analysis

  • Nifty June Future Open Interest Volume is at 2.12 core with liquidation of 3.7 Lakh with decrease in  cost of carry suggesting long position were closed today, NF Rollover cost @9435 Closed above it.
  • Total Future & Option trading volume at 2.86 Lakh core with total contract traded at .78 lakh , PCR @1.01
  • 9700  CE  is having Highest OI  at 76 lakh, resistance at 9700 followed by 9800 .9300-9800 CE added 14 Lakh in OI so bears added position back in 9600-9800 CE . FII sold 750 CE longs and 12  K CE were shorted by them.Retail bought 41.7 K CE contracts and 19.5 K  CE were shorted  by them.
  • 9500 PE OI@70.3 lakhs having the highest OI strong support at 9500 followed by 9400. 9300-9800 PE added  1.77 Lakh in OI so bulls added position in 9300-9400 PE . FII bought 13 K PE and 1.6 K shorted PE were covered  by them. Retail bought 19 K PE contracts and 25.3 K PE were shorted by them.
  • FII’s sold 764 cores in Equity and DII’s bought 890 cores in cash segment.INR closed at 64.43

Buy above 9615 Tgt 9640,9664 and 9700 (Nifty Spot Levels)

Sell below 9562 Tgt 9540,9520 and 9480(Nifty Spot Levels)

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