Nifty Squaring of Space leads to fresh life high,EOD Analysis

  • FII’s sold 12.4 K contract of Index Future worth 999 cores ,8.7 K Long contract were liquidated  by FII’s and 3.7 K Short contracts were added by FII’s. Net Open Interest decreased  by 4.9 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 at 2.6  The Confident Trader


  • As discussed in last analysis Bullish above 9645 for a move towards 9710/9790. Bearish below 9580 for a move towards 9520/9480. High made today was 9684 and low made was 9642 so bulls again closed above 9645 and also closed above the rising gann angle line,any close above 9720 can see fast move towards 9797. We have 3 high in range of 9709-9699 which can be termed as triple top if we do not close above 9710 for next 5 days,so time to be cautious. As can be seen from below chart break above 9720 we can move towards 9797 but failure to do so we can see fall towards 9400-9360 range. Bearish below 9610 for a move towards 9530/9470. Low made today was 9646 and high made was 9782 so finally squaring of space showing its color, bulls were able to hold 9645 and as soon as 9720 was broken we had a big rally on upside almost doing our target of 9720. When Price and time are by your side big moves are easy to capture as I have been indicating in my posts about impulsive time cycle. Now Bulls need close above 9790 for next move towards 9830/9869. Bearish below 9610 for move towards 9570/9520.  Bank Nifty does 23720 breaking gann angle,EOD Analysis

  • Nifty July Future Open Interest Volume is at 2.08 core with liquidation of 2.6 Lakh with increase in  cost of carry suggesting long position were closed  today, NF Rollover cost @9559 Closed above it, and rallied 200 points.
  • Total Future & Option trading volume at 3.33 Lakh core with total contract traded at 1 lakh , PCR @1.05
  • 9800  CE  is having Highest OI  at 40.1 lakh, resistance at 9800 followed by 9900 .9300-9800 CE liquidated 1.5 Lakh in OI so bears covered position in 9700-9800 CE  FII bought 22.9 K CE longs and 3 K shorted CE were covered by them.Retail sold 9.2 K CE contracts and 5.5 K  CE were shorted  by them.
  • 9600 PE OI@67.2 lakhs having the highest OI strong support at 9600 followed by 9500. 9300-9800 PE added 31.5 Lakh in OI so bulls added position in 9400-9500 PE . FII bought 6.4 K PE and 2 K PE were shorted by them. Retail bought 59.7 K PE contracts and 32.6 K PE were shorted by them.
  • FII’s bought 102 cores in Equity and DII’s bought 894 cores in cash segment.INR closed at 64.53

Buy above 9790 Tgt 9820,9842 and 9868 (Nifty Spot Levels)

Sell below 9750 Tgt 9722,9700 and 9670 (Nifty Spot Levels)

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