Nifty does Price Time Squaring,Bounce Back on cards

  • FII’s bought 11.1 K contract of Index Future worth 898 cores ,10.9 Long contract were added by FII’s and 198 Short contracts were liquidated by FII’s. Net Open Interest increased  by 10.7 K contract, so fall in market was used by FII’s to enter big quantity long and exit short in  Index futures. FII’s Long to Short Ratio increased to 3.16  Mistake most amateur traders repeat time to time
  • As discussed in last analysis    Today is 3 day where we made the failed attempt to close above gann angles, bulls should not delay much else bears will become active and can push nifty lower towards 9500/9400 odd levels. Now bulls need a close above 9650 for a quick move towards 9720/9770. Bearish below 9610 for a move towards 9565/9520. As soon as 9610 was broken bears became active and made low of 9565 near our 1 target. Why 9565 is so important the answer lies in below gann angle chart as it lies near the 1×1 angle drawn from the low 19 April and also near the double bottom level of 9560, So Double bottom with Price support and to add to all this combo, 24 June is Monthly gann date so its effect will be shows today so if 9565 is held we can see a bounce of 100-150 points quiet easily, As both price and time are meeting its qualify for price and time squaring in nifty. Lets see whats market is having on its cards. Longs can be taken above 9622 for a move towards 9673/9720. Bulls need close above 9720 for next move towards 9800. Bearish below 9656 for a move towards 9500/9450.  Bank Nifty does Price Time Squaring,Bounce Back on cards

  • Nifty June Future Open Interest Volume is at 1.94 core with liquidation of 8.9 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 5.2 Lakh core with total contract traded at 1.16 lakh , PCR @0.81
  • 9700  CE  is having Highest OI  at 82.4 lakh, resistance at 9700 followed by 9800 .9300-9800 CE added 43.7 Lakh in OI so bears added some position in 9600-9800 CE .If Nifty sustain above 9622 for an hour bears who added position on Friday will run for cover and will fuel further rise. FII sold 5.4 K CE longs and 11.3 K shorted CE were covered  by them.Retail bought 125 K CE contracts and 51.2 K  CE were shorted  by them.
  • 9500 PE OI@58.1 lakhs having the highest OI strong support at 9600 followed by 9500. 9300-9800 PE liquidated 18.3 Lakh in OI so bulls covered position in 9300-9400 PE . FII bought 29.6 K PE and 5.2 K PE were shorted by them. Retail sold 16.6 K PE contracts and 34.8 K PE were shorted by them.
  • FII’s bought 270 cores in Equity and DII’s sold 45 cores in cash segment.INR closed at 64.52

Buy above 9626 Tgt 9655,9678 and 9710 (Nifty Spot Levels)

Sell below 9593 Tgt 9565,9545 and 9515 (Nifty Spot Levels)

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