Nifty bulls fails to close above 9525,EOD Analysis

  • FII’s sold 9.2 K contract of Index Future worth 551 cores ,4.2 K Long contract were added by FII’s and 13.4 K Short contracts were added by FII’s. Net Open Interest increased  by 17.7 K contract, so rise in market was used by FII’s to enter  long and enter  short in  Index futures. FII’s Long to Short Ratio at 3.5  Oh, life relax please!

 

  • As discussed in last analysis  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. Nifty opened with gap down made low of 9448 and showed a swift recovery and made high of 9535 but failed to close above 9525 and below 9470 suggesting both bulls and bears in dilemma. Till we are below gann angle level of 9610 high probability we can continue correction towards 9340-9360 range. Bullish above 9610 and bearish below 9500 for a move towards 9420/9360.  Bank Nifty continue to hold on to Gann Angle,EOD Analysis

  • Nifty July Future Open Interest Volume is at 1.95 core with addition of 1.2 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 3.1 Lakh core with total contract traded at 1.20 lakh , PCR @0.96
  • 9700  CE  is having Highest OI  at 35.2 lakh, resistance at 9600 followed by 9700 .9300-9800 CE added 25.2 Lakh in OI so bears added major position in 9600-9800 CE  FII bought 13 K CE longs and 11.3 K shorted CE were covered  by them.Retail bought 70.8 K CE contracts and 70.1 K  CE were shorted  by them.
  • 9400 PE OI@50.4 lakhs having the highest OI strong support at 9400. 9300-9800 PE added 16.9 Lakh in OI so bulls added position in 9300-9400 PE . FII bought 29.4 K PE and 5 K PE were shorted by them. Retail bought 69.9 K PE contracts and 76.7 K PE were shorted by them.
  • FII’s sold 160 cores in Equity and DII’s bought 1196 cores in cash segment.INR closed at 64.57

Buy above 9535 Tgt 9555,9582 and 9610 (Nifty Spot Levels)

Sell below 9497 Tgt 9474,9445 and 9410 (Nifty Spot Levels)

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