Nifty rallies 200 points in 2 days after Price Time Squaring

  • FII’s bought 6.8 K contract of Index Future worth 538  cores ,9.5 K Long contract were added by FII’s and 2.7 K Short contracts were added  by FII’s. Net Open Interest increased  by 12.2 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 0.88. How to Control Emotions While trading

 

  • As Discussed in Last Analysis   Nifty bounced from gann angle and once above 10470 rallied towards our target of 10512. Till we are above 10512 bulls can rally towards 10560/10610. Nifty did a perfect price time squaring and we were able to capture most of the move. Bearish below 10460 for a move back to 10410/10368.  Nifty did 10610 our target above 10470, Bulls have rallied 200  points in 2 days after we did price time squaring. Now Bulls should hold 10555 for the upmove to continue towards 10666 where we have gann angle resistance and above that 10720/10800. Bearish below 10510 for a move back to 10470/10410.Important intraday time for reversal can be at 1:01/2:19.Bank Nifty rallies 695 points in 2 days after Price Time Squaring

 

 

  • Nifty May Future Open Interest Volume is at 2.21 core with liquidation of 4.5 Lakh with decrease in  cost of carry suggesting long position were added today, NF Rollover cost @10613 closed below it.
  • Total Future & Option trading volume at 7.04 Lakh core with total contract traded at 1.40 lakh , PCR @1.02
  • 10800 CE  is having Highest OI  at 52.9 Lakh, resistance at 10700 followed by 10800 .10300-11000 CE liquidated  41 lakh in OI so bears covered  position  in range of 10700-10800 CE. FII bought 7.6 K CE and 1.3 K shorted CE were covered by them. Retail sold 43.9  K CE and 24  K shorted CE were shorted by them.

 

  • 10500 PE OI@67.3lakhs having the highest OI strong support at 10500 followed by 10400 . 10200-11000 PE  32 Lakh in OI so bulls added  position in 10500-10600 PE. FII sold 253 PE and 2.9 K  PE were shorted by them. Retail bought 111 K PE and 79 K PE were shorted by them.

 

  • FII’s sold 768 cores  and DII’s bought 887 cores in cash segment.INR closed at 67.75

 

Buy above 10611 Tgt 10625,10650 and 10675 (Nifty Spot Levels)

Sell below 10580 Tgt 10560,10545 and 10520 (Nifty Spot Levels)

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