Will Nifty Bulls be able to hold 9610 ?

  • FII’s sold 18 K contract of Index Future worth 1303 cores ,2 K Long contract were liquidated by FII’s and 16 K Short contracts were added by FII’s. Net Open Interest increased  by 13.9 K contract, so fall in market was used by FII’s to exit long and enter short in  Index futures. FII’s Long to Short Ratio decreased to 3.3 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. Nifty broke the low of Friday but again managed to close above gann angle and also closed above 9610. Holding 9610 bulls can rally towards 9660/9720/9770.  Bearish below 9595 for a move towards 9530/9480.  Will Bank Nifty be able to hold 23470 ?

  • Nifty June Future Open Interest Volume is at 2.18 core with liquidation of 1.9 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 3.31 Lakh core with total contract traded at 1  lakh , PCR @1.09
  • 9700  CE  is having Highest OI  at 62.4 lakh, resistance at 9700 followed by 9800 .9300-9800 CE added 23.3 Lakh in OI so bears added position in 9600-9800 CE . FII sold 973 CE longs and 11.8 K CE were shorted by them.Retail bought 85.6 K CE contracts and 37.4 K  CE were shorted  by them.
  • 9500 PE OI@71.4 lakhs having the highest OI strong support at 9500 followed by 9400. 9300-9800 PE liquidated 8.9 Lakh in OI so bulls covered position in 9300-9400 PE . FII bought 19.2 K PE and 1.2 K shorted PE were covered  by them. Retail sold 27.9 K PE contracts and 7 K PE were shorted by them.
  • FII’s sold 169 cores in Equity and DII’s sold 63  cores in cash segment.INR closed at 64.44

Buy above 9620 Tgt 9643,9669 and 9691 (Nifty Spot Levels)

Sell below 9595 Tgt 9572,9545 and 9520(Nifty Spot Levels)

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