Will Nifty be able to close above 9525 on Monthly Close ?

  • As discussed in last analysis  Low made was 9474 so bulls were able to protect 9478 on downside High made was 9522 so bears did not let bull cross 9525 so we traded in a small range before June expiry,Bulls will get active above 9525 for a move towards 9565/9610. Bearish below 9470 for a move towards 9410/9360. Bulls did the target of 9565 but again failed to close above 9525, Bears have been getting stronger as its the 6 day when they are able to close index below open price and also the gann angle line. As we have weekly and monthly closing tomorrow bulls would like a close above 9525 and bears below 9470. June Series nifty moved just 6 points as Close of May Series was 9510 and close today was 9504 so consolidation after 6 months of straight rise. Bulls will get active above 9525 for a move towards 9565/9610. Bearish below 9470 for a move towards 9410/9360. Bank Nifty Trades between Gann Angle

  • Nifty June Future Open Interest Volume is at 1.94 core with addition of 47 Lakh with increase in  cost of carry suggesting long position were added today, NF Rollover cost @9559 Closed below it, Rollover at 69.7%
  • Total Future & Option trading volume at 13.7 Lakh core with total contract traded at 2.20 lakh , PCR @0.94

 

  • FII’s sold 1140 cores in Equity and DII’s bought 600  cores in cash segment.INR closed at 64.63

Buy above 9525 Tgt 9555,9575 and 9610 (Nifty Spot Levels)

Sell below 9493 Tgt 9474,9445 and 9410 (Nifty Spot Levels)

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