Nifty continue to bounce from lower end of gann angle,EOD Analysis

  • FII’s sold 2.1 K contract of Index Future worth 118 cores ,9.1 K Long contract were added by FII’s and 11.3 K Short contracts were added by FII’s. Net Open Interest increased  by 20.5 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 0.53. H + W + P = E Formulae for Trading Success
  • As Discussed in Last Analysis  High made today was 10831 so Nifty bulls failed to capture 10846, stuck in gann angle as shown below and  saw a small pullback. Once Bulls capture 10846 Nifty can rally all the way towards 10930/11000.  Bearish Below 10700 we can continue to see fall towards 10666/10617. Nifty continue to trade in range neither breaking 10700 nor 10846. Best of trend following traders is to avoid this range or trade lower sell higher with SL of 20 points,  Bullish above 10800 for a move towards 10846/10920. Bearish below 10700 we can continue to see fall towards 10666/10617.Important intraday time for reversal can be at 10:19/2:12. Bank Nifty Stuck in Gann Angle,EOD Analysis

  • Nifty June Future Open Interest Volume is at 2.04 core with liquidation of 25 Lakh with decrease in  cost of carry suggesting long position were added today, NF Rollover cost @10656 closed above it.
  • 11000 CE  is having Highest OI  at 53.5  Lakh, resistance at 10900 followed by 11000 .10600-11000 CE liquidated 9.2 lakh in OI so bears  covered  position in range of 10800-11000 CE. FII sold 2.8 K CE and 112 CE were shorted by them. Retail bought 27.5 K CE and 19.2 K CE were shorted by them.

 

  • 10700 PE OI@50.5 lakhs having the highest OI strong support at 10700 followed by 10600 . 10300-11000 PE  added 3.4 Lakh in OI so bulls added position in range 10700-10800 PE. FII sold 4.9 K PE and 3.7 K shorted PE were covered by them. Retail bought 15.1 K PE and 13.2 K PE were shorted by them.
  • Total Future & Option trading volume at 9.31 Lakh core with total contract traded at 1.54 lakh , PCR @0.93

 

  • FII’s sold 538  cores  and DII’s bought 238  cores in cash segment.INR closed at 68.25

 

Buy above 10782 Tgt 10800,10820 and 10846 (Nifty Spot Levels)

Sell below 10730 Tgt 10710,10690 and 10655 (Nifty Spot Levels)

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