Nifty Continue to hold on to gann angle,EOD Analysis

  • FII’s bought 3.6 K contract of Index Future worth 332 cores ,3 K Long contract were added by FII’s and 658 Short contracts were liquidated by FII’s. Net Open Interest increased  by 2.5 K contract, so fall in market was used by FII’s to enter long and exit short in  Index futures. FII’s Long to Short Ratio increased to 5.6 Common Trading Mistakes
  • 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 9641 near the gann angle, Till Bulls close above gann angle they have upper hand and 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 ready for big move, EOD Analysis

  • Nifty June Future Open Interest Volume is at 2.21 core with addition of 1.5 Lakh with increase in  cost of carry suggesting long position were added today, NF Rollover cost @9435 Closed above it.
  • Total Future & Option trading volume at 7.30 Lakh core with total contract traded at 0.79  lakh , PCR @0.93
  • 9700  CE  is having Highest OI  at 55.5 lakh, resistance at 9700 followed by 9800 .9300-9800 CE added 4.9 Lakh in OI so bears added position in 9700-9800 CE. FII sold 7 K CE longs and 130 CE were shorted by them.Retail sold 46.8 K CE contracts and 41.3 K  shorted  CE were covered by them.
  • 9500 PE OI@65.1 lakhs having the highest OI strong support at 9500 followed by 9400. 9300-9800 PE liquidated 0.63 Lakh in OI so bulls covered partial position in 9300-9400 PE . FII bought 3.3 K PE and 2.2 K shorted PE were covered  by them. Retail sold 99.6 K PE contracts and 73.1 K shorted PE were covered by them.
  • FII’s bought 90 cores in Equity and DII’s bought 738  cores in cash segment.INR closed at 64.21

Buy above 9660 Tgt 9676,9700 and 9724 (Nifty Spot Levels)

Sell below 9628 Tgt 9610,9580 and 9550(Nifty Spot Levels)

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