Nifty forms Doji on Time Cycle Date

  • FII’s bought 1.5 K contract of Index Future worth 58 cores 4.9 K Long contract were added by FII’s and 2.2 Short contracts were added by FII’s. Net Open Interest increased  by 5.3 K contract, so fall in Nifty was used by FII’s to enter long and enter short in  Index futures.FII’s Long to Short Ratio at 1.45 How Comfortable you are with your trading ?
  • As Discussed in Last Analysis  Tomorrow is important time cycle date so possibility of a short term bounce if we held on to 11666-11680 range. Bulls will get active above 11700 for a move towards 11754/11808/11863. Bears will get active below 11650 for a move back to 11600/11555.
  • High made was 11727 and low made was 11640 so it was a day of whipsaw As today was time cycle date today high 11727 and low 11641  break can easily see a move of 100-150  points. Bulls will get active above 11727 for a move towards 11803/11857. Bears will get active below 11640 for a move back to 11587/11533.

  • Nifty June Future Open Interest Volume is at 1.83 core with liquidation of 5.2 Lakh with  decrease in  cost of carry suggesting short position were closed today, NF Rollover cost @11954 closed above it.
  • Total Future & Option trading volume at 11.74 Lakh core with total contract traded at 1.33 lakh , PCR @0.89
  • 12000 CE  is having Highest OI  at 24.9 Lakh, resistance at 12000 followed by 12100 .11000-11800 CE added 8.5 Lakh in OI so bears added position in range of 11800-12000.FII bought 12.9 K CE long and 7.5 K CE were shorted by them. DII bought 179 K CE and 1065 K CE were shorted by them.
  • 11600 PE OI@19.7 Lakhs having the highest OI strong support at 11600 followed by 11500 . 11000-11700 PE added  10 Lakh in OI so bulls added  position in range 11600-11500.FII bought 25.2 K PE long and 2.2 K shorted PE were covered  by them. DII bought 7.8 K PE and 27 K PE were shorted by them.

Buy above 11754 Tgt 11781,11803 and 11831 (Nifty Spot Levels)

Sell below 11686 Tgt 11660,11641 and 11610  (Nifty Spot Levels)

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