Nifty forms Another DOJI

  • FII’s sold 2.4 K contract of Index Future worth 75 cores 5.3 K Long contract were liquidated by FII’s and 2.8 K Short contracts were liquidated by FII’s. Net Open Interest increased  by 3.5 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 1.27 How Comfortable you are with your trading ?
  • As Discussed in Last Analysis   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.
  • High made today was 11975 so we did our target of 11932 and missed 11987  by few points and again closed above 11910. Till we are above 11910 bulls can rally towards 11987/12042/12100. Bears will get active below 11823 for a move back to 11769/11710.
  • THE MOST NEGLECTED TRADING DISCIPLINE

  • Nifty June Future Open Interest Volume is at 1.84 core with liquidation  of 0.70  Lakh with  increase in  cost of carry suggesting short position were closed today, NF Rollover cost @11954 closed below it.
  • Total Future & Option trading volume at 9.48 Lakh core with total contract traded at 1.10 lakh , PCR @1.01
  • 12000 CE  is having Highest OI  at 19.2 Lakh, resistance at 12000 followed by 12100 .11000-11800 CE added 0.58 Lakh in OI so bears added position in range of 11800-12000. FII bought 4.2 K CE Long and 3.4 K CE were shorted by them.Retailers bought 106 K CE Long and 75.7 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 7.4 K PE Long and 4.6 K PE were shorted by them.Retailers bought 61.6 K PE Long and 46 K PE were shorted by them.

Buy above 11932 Tgt 11960,11990 and 12010 (Nifty Spot Levels)

Sell below 11900 Tgt 11870,11841 and 11821 (Nifty Spot Levels)

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