Nifty saw small pullback after doing 9830,EOD Analysis

  • FII’s bought 1.5 K contract of Index Future worth 93 cores ,2 K Long contract were added by FII’s and 521 Short contracts were added by FII’s. Net Open Interest increased  by 2.5 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 2.6  What needs to be avoided to become Successful trader

 

  • As discussed in last analysis 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. Nifty made a fresh life high of 9830 exactly the level we discussed yesterday but failed to close above 9790, 9830 is very important level as its gann angle resistance of the line where market formed a small top and corrected 250 points, so if 9830 is not broken for this week we can see correction till 9700/9645/9610. Bullish above 9830 for next move towards 9890/9956. As per time cycle 12 July is very important day.  Bank Nifty continue to hold 23540,EOD Analysis

  • Nifty July Future Open Interest Volume is at 2.04 core with addition of 3.5 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 4.68 Lakh core with total contract traded at 0.88 lakh , PCR @1.09
  • 9800  CE  is having Highest OI  at 42.4  lakh, resistance at 9800 followed by 9900 .9400-10000 CE added 1.4 Lakh in OI so bears added position in 9700-9800 CE  FII bought 20.9 K CE longs and 3.1 K shorted CE were covered by them.Retail bought 42 K CE contracts and 46.6 K  CE were shorted  by them.
  • 9600 PE OI@74.1 lakhs having the highest OI strong support at 9600 followed by 9500. 9400-10000 PE added 21.6 Lakh in OI so bulls added position in 9500-9600 PE . FII sold 7.3 K PE and 29.7 K PE were shorted by them. Retail bought 57.8 K PE and 29.7 K PE were shorted by them
  • FII’s bought 182 cores in Equity and DII’s bought 335 cores in cash segment.INR closed at 64.58

Buy above 9800 Tgt 9830,9860 and 9888 (Nifty Spot Levels)

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

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