Will Nifty Bulls able to break Gann Angle ?

  • FII’s bought 4.3 K contract of Index Future worth 320 cores ,3.2 K Long contract were added by FII’s and 1 K Short contracts were liquidated by FII’s. Net Open Interest increased  by 2.2 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 3.1.  What Stock Trader can Learn from Doctor
  • As discussed in last analysis   Bulls now need to close above 9674 Gann angle for a move towards 9720. Close above 9720 is very very important for next move towards 9790/9860. Bearish below 9565 for a move towards 9520/9480. High made was 9676 near the gann angle so bulls were not able to close above 9674 also we had the narrowest range of market in past few days, Bulls need close above gann angle for a fast move towards 9720 and close above 9720 will be very bullish in short term, Bearish below 9610 for a move towards 9566/9520.   Bank Nifty forms NR7 Pattern,EOD Analysis

  • Nifty June Future Open Interest Volume is at 2.10 core with liquidation of 0.43 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 3.34 Lakh core with total contract traded at .47 lakh , PCR @1.08
  • 9700  CE  is having Highest OI  at 66.7 lakh, resistance at 9700 followed by 9800 .9300-9800 CE added 0.73 Lakh in OI so bears added some position in 9600-9800 CE . FII sold 1.8 K CE longs and 908 shorted CE were covered  by them.Retail bought 33.1 K CE contracts and 23.9 K  shorted  CE were covered by them.
  • 9600 PE OI@59.6 lakhs having the highest OI strong support at 9600 followed by 9500. 9300-9800 PE liquidated 9.8 Lakh in OI so bulls covered  position in 9300-9400 PE . FII bought 20.9 K PE and 5.1 K PE were shorted by them. Retail bought 20.9 K PE contracts and 16.2 K PE were shorted by them.
  • FII’s sold 313 cores in Equity and DII’s bought 477 cores in cash segment.INR closed at 64.49

Buy above 9660 Tgt 9680,9700 and 9720 (Nifty Spot Levels)

Sell below 9638 Tgt 9623,9605 and 9580(Nifty Spot Levels)

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