Nifty rallies 100 points from Time Cycle turn date

  • FII’s sold 7.2 K contract of Index Future worth 620 cores ,645 Long contract were added by FII’s and 7.9 K Short contracts were added by FII’s. Net Open Interest increased  by 8.5 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, lowest in the series.  Quiz: How strong is your Trading Psychology

 

  • As discussed in last analysis  High made today was 9825 so still we are not able to break 9830 but today close was above 9790 which is mildly bullish, and if we break 9830 than we can again see a fast rise towards Bullish above 9830 for next move towards 9890/9966/10000. Bearish below 9610 only. As per time cycle till 9787 is held bulls can push nifty towards the scarocant figure of 10000 by 30 July.  Low made today was 9853 so nifty opened gap up above 9830 and rallied all the way till 9897, now bulls are holding 9830 we can move towards 9936/9961/10000. Bearish below 9792 for a move towards 9700/9610. Time cycle turn date of 12 July again helped in capturing good move in market.  Bank Nifty continue its rally above 23550,EOD Analysis

  • Nifty July Future Open Interest Volume is at 2.17 core with addition of 9 Lakh with decrease in  cost of carry suggesting short position were added today, NF Rollover cost @9559 Closed above it, and rallied 300 points.
  • Total Future & Option trading volume at 10  Lakh core with total contract traded at 0.88 lakh , PCR @1.05
  • 10000  CE  is having Highest OI  at 44.4  lakh, resistance at 10000 followed by 9900 .9400-10000 CE liquidated 7.2 Lakh in OI so bears covered position in 9700-9800 CE  FII bought 19.9 K CE longs and 1.2 K shorted CE were covered by them.Retail sold 83 K CE contracts and 39 K shorted  CE were covered by them.
  • 9600 PE OI@63.4 lakhs having the highest OI strong support at 9600 followed by 9500. 9400-10000 PE added 34 Lakh in OI so bulls added position in 9500-9600 PE . FII bought 9.9 K PE and 3.8 K PE were shorted by them. Retail sold 59 K PE and 75K shorted PE were covered by them
  • FII’s sold 59 cores in Equity and DII’s bought 279 cores in cash segment.INR closed at 64.54

Buy above 9910 Tgt 9924,9951 and 9973 (Nifty Spot Levels)

Sell below 9877 Tgt 9865,9845 and 9810 (Nifty Spot Levels)

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