Has Nifty formed Short term Bottom ?

  • FII’s sold 3.2 K contract of Index Future worth 287 cores 3.5 K Long contract were liquidated by FII’s and 287 Short contracts were added by FII’s. Net Open Interest decreased  by 3.8 K contract, so fall in Nifty was used by FII’s to exit long and exit short in  Index futures.FII’s Long to Short Ratio at 1.29 How Comfortable you are with your trading ?
  • As Discussed in Last Analysis   If RBI Day Low is not broken we can see a reverse move on upside as per time cycle. Bulls will get active only above 11860 for a move towards 11910/11977/12030. Bears will become active below 11810 for a move back to 11777/11721/11666.  Nifty did 1 target on downside,Low made was 11769 near our 1 target of 11777 and  closed above 11860. 10 is important time cycle date suggesting we could have formed short term bottom on 07 June and in for a rally towards 11932/11987/12041. Bears will get active below 11810 for a move back to 11777/11721/11666. THE MOST NEGLECTED TRADING DISCIPLINE

  • Nifty June Future Open Interest Volume is at 1.85 core with liquidation  of 7.5  Lakh with  decrease in  cost of carry suggesting short position were closed today, NF Rollover cost @11954 closed below it
  • Total Future & Option trading volume at 9.43 Lakh core with total contract traded at 1.33 lakh , PCR @0.86
  • 12000 CE  is having Highest OI  at 19 Lakh, resistance at 12000 followed by 12100 .11000-11800 CE added 0.81 Lakh in OI so bears added position in range of 11800-12000. FII bought 7.2 K CE Long and 268 shorted CE were covered by them.Retailers bought 44.2 K CE Long and 46.2 K CE were shorted by them.
  • 11800 PE OI@17.5 Lakhs having the highest OI strong support at 11800 followed by 11700 . 11000-11700 PE added 2.2 Lakh in OI so bulls added position in range 11700-11800.FII bought 2.2 K PE Long and 3.2 K PE were shorted by them.Retailers bought 104  K PE Long and 87.7 K PE were shorted by them.

Buy above 11910 Tgt 11932,11960 and 11999 (Nifty Spot Levels)

Sell below 11810 Tgt 11785,11760 and 11740  (Nifty Spot Levels)

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