Nifty Continue to trade in range of 9830-9930,EOD Analysis

  • FII’s sold 7.2 K contract of Index Future worth 539 cores ,3.5 K Long contract were liquidated by FII’s and 3.7 K Short contracts were added by FII’s. Net Open Interest increased  by 206 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 at 2 Why do 90% of traders lose money?

 

  • As discussed in last analysis  Low made today was 9851 and high made was 9905 so nifty did 9880 target today, Again gann analysis kept us above the curve, Nifty held on the gann angle and showed 70 points bounce, till we are holding gann angle low of 9830-9851 we should move up and made new life high at 9930. Above 9930 target are 9969/10000. Bearish below 9787 for a move towards 9710/9650 High made was 9922 bulls were still not able to cross 9930 and make new high,low made was 9863 so bulls and bears are stuck in the range 9930-9830, more we consolidate in range better will be breakout or breakdown, We have new time cycle starting from 23 Jul as we have holiday so effect can be seen either tomorrow or Monday. Long above 9930 for a move towards 9969/10020. Bearish below 9830 for a move towards 9787/9710.  Bank Nifty Analysis as we approach End of Current Time Cycle

  • Nifty July Future Open Interest Volume is at 1.82 core with liquidation of 2.4 Lakh with decrease in  cost of carry suggesting long position were covered today, NF Rollover cost @9559 Closed above it, and rallied 400 points.
  • Total Future & Option trading volume at 9.90 Lakh core with total contract traded at 0.87 lakh , PCR @1.06
  • 10000  CE  is having Highest OI  at 70.8 lakh, resistance at 10000 followed by 9900 .9600-10000 CE added 24.5 Lakh in OI so bears again added in range of 9800-10000 CE. FII bought 1 K CE longs and 5.8 K CE were shorted by them.Retail sold 11.4 K CE contracts and 25.3 K shorted  CE were covered by them.
  • 9800 PE OI@64.9 lakhs having the highest OI strong support at 9800 followed by 9700. 9500-10000 PE liquidated 8.7 Lakh in OI so bulls covered position in 9700-9800 PE . FII bought 358 PE and 4 K PE were shorted by them. Retail sold 121 K PE and 81.6 K shorted PE were covered by them
  • FII’s bought 155 cores in Equity and DII’s bought 0.08 cores in cash segment.INR closed at 64.43

Buy above 9890 Tgt 9910,9931 and 9950(Nifty Spot Levels)

Sell below 9865 Tgt 9850,9827 and 9810 (Nifty Spot Levels)

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