Nifty shows an impulsive move as Price and Time meets

  • FII’s bought 6.3 K contract of Index Future worth 621 cores ,16.6 Long contract were added by FII’s and 10.3 K Short contracts were added by FII’s. Net Open Interest increased  by 26.9 K contract, so fall in market was used by FII’s to enter  long and enter  short in  Index futures. FII’s Long to Short Ratio decreased to 2.9  Mistake most amateur traders repeat time to time
  • As discussed in last analysis   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. We were expecting prices to bounce back above 9622 High made was 9616 but as soon as 9656 was taken out bears were on full swing and effect of price and time squaring was seen as shown in below chart. Thats the beauty of price time squaring you get impulsive move. Bears are in front foot and break of 9478 again will see fall towards 9410/9341.Bullish above 9525 for a move towards 9566/9610   Bank Nifty does Price Time Squaring,Bounce Back on cards

  • Nifty June Future Open Interest Volume is at 1.32 core with liquidation of 62 Lakh with increase in  cost of carry suggesting short position were added today, NF Rollover cost @9435 Closed above it.
  • Total Future & Option trading volume at 8.2 Lakh core with total contract traded at 2 lakh , PCR @0.91
  • 9700  CE  is having Highest OI  at 83.6 lakh, resistance at 9600 followed by 9700 .9300-9800 CE added 48.6 Lakh in OI so bears added major position in 9600-9800 CE  FII sold 5.2 K CE longs and 21.9 K shorted CE were covered  by them.Retail bought 140 K CE contracts and 52.7 K  CE were shorted  by them.
  • 9500 PE OI@51.3 lakhs having the highest OI strong support at 9500 followed by 9400. 9300-9800 PE liquidated 46.6 Lakh in OI so bulls covered position in 9300-9400 PE . FII bought 15.9 K PE and 7 K PE were shorted by them. Retail sold 38.8 K PE contracts and 12.4 K shorted PE were covered by them.
  • FII’s bought 292 cores in Equity and DII’s sold 148 cores in cash segment.INR closed at 64.53

Buy above 9535 Tgt 9555,9580 and 9610 (Nifty Spot Levels)

Sell below 9470 Tgt 9451,9420 and 9391 (Nifty Spot Levels)

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