Nifty rallies holding time cycle low of 9830,EOD Analysis

  • FII’s sold 6.3 K contract of Index Future worth 519 cores ,3.2 K Long contract were added by FII’s and9.5 K Short contracts were added by FII’s. Net Open Interest increased  by 12.7 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 1.8 Are you trading on Luck or trading Skills ?

 

  • As discussed in last analysis  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. High made today was 9925 and low made was 9838 so we continue to trade in range of 9830-9930, so gann angle support of 9830 continue to provide support to nifty bulls and with new time cycle starting from 24 July we can expect a breakout/breakdown soon. Long above 9930 for a move towards 9969/10020. Bearish below 9830 for a move towards 9787/9710. Low made today was 9920 so bulls finally did breakout and did the first target of 9969. Till we are holding 9930 we can rally till 10057-10090 where we have gann angle resistance. We made time cycle low on Friday on gann angle and rallied today this is how time analysis give an extra edge. Bearish below 9830 for a move towards 9787/9710. Will Bank Nifty pause its uptrend near 24476-24480

  • Nifty July Future Open Interest Volume is at 1.66 core with liquidation of 13.1 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 5.48Lakh core with total contract traded at 1.11 lakh , PCR @1.15
  • 10000  CE  is having Highest OI  at 65 lakh, resistance at 10000 followed by 9900 .9600-10000 CE liquidated 2 Lakh in OI so bears again liquidated  in range of 9800-10000 CE. FII bought 4 K CE longs and 6.5 K CE were shorted by them.Retail sold 2.4 K CE contracts and 6.4 K CE were shorted  by them.
  • 9900 PE OI@59.4 lakhs having the highest OI strong support at 9900 followed by 9800. 9500-10000 PE added 30 Lakh in OI so bulls again added position in 9700-9800 PE . FII bought  16.2 K PE and 9.7 K PE were shorted by them. Retail bought 76.9 K PE and 30.7 K PE were shorted by them
  • FII’s sold 366 cores in Equity and DII’s bought 668 cores in cash segment.INR closed at 64.33

Buy above 9980 Tgt 10000,10021 and 10057(Nifty Spot Levels)

Sell below 9940 Tgt 9920,9900 and 9880 (Nifty Spot Levels)

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