- FII’s sold 14.1 K contract of Index Future worth 1030 cores ,513 Long contract were liquidated by FII’s and 13.6 K Short contracts were added by FII’s. Net Open Interest increased by 13.1 K contract, so rise in market was used by FII’s to exit long and enter short in Index futures. FII’s Long to Short Ratio decreased to 4.2 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. As per Geometric Time Cycle big move can be seen in market in next 2 days.Low made today was again 9608 near the gann angle, as shown in below chart and we saw a good bounce back. As per time cycle if today’s low is not broken we can see an up move towards 9720/9800. Bearish below 9610 for a move towards 9530/9480. Bank Nifty continue to made life high holding Gann Level
- Nifty June Future Open Interest Volume is at 2.19 core with liquidation of 1.8 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 3.32 Lakh core with total contract traded at 1 lakh , PCR @1.09
- 9700 CE is having Highest OI at 56.1 lakh, resistance at 9700 followed by 9800 .9300-9800 CE liquidated 4.6 Lakh in OI so bears covered position in 9700-9800 CE which was added yesterday. FII bought 5.9 K CE longs and 171 CE were shorted by them.Retail bought 11.7 K CE contracts and 10 K shorted CE were covered by them.
- 9500 PE OI@65.7 lakhs having the highest OI strong support at 9500 followed by 9400. 9300-9800 PE added 5.5 Lakh in OI so bulls added back position in 9300-9400 PE . FII bought 14.8 K PE and 3 K shorted PE were covered by them. Retail bought 32.8 K PE contracts and 36.9 K shorted PE were covered by them.
- FII’s sold 101 cores in Equity and DII’s bought 325 cores in cash segment.INR closed at 64.24
- Nifty Futures Trend Deciding level is 9652 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 9621. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 9680 Tgt 9693,9720 and 9751 (Nifty Spot Levels)
Sell below 9645 Tgt 9625,9601 and 9580(Nifty Spot Levels)
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