Nifty rallies after Price Time Squaring

  • FII’s sold 6.9 K contract of Index Future worth 236 cores 9.4 K Long contract were added by FII’s and 16.4 K  Short contracts were added by FII’s. Net Open Interest increased  by 25.9 K contract, so rise in Nifty was used by FII’s to enter long and enter short in  Index futures.FII’s Long to Short Ratio at 1.36 How Comfortable you are with your trading ?
  • As Discussed in Last Analysis We have seen increase in volatility in last 2 session suggesting trending move round the corner,Bulls will get active above 11727 for a move towards 11803/11857.
  • Gann Analysis helped us in capturing the trending move again and above 11727 we did 11844. Now Bulls need a close above 11865 for the rally to continue till 11925/11984/12024. Bears will get active below 11785 for a move back to 11733/11680/11625.

  • Nifty June Future Open Interest Volume is at 1.73 core with liquidation of 5.1 Lakh with  decrease in  cost of carry suggesting long position were closed today, NF Rollover cost @11954 closed above it.
  • Total Future & Option trading volume at 26.3 Lakh core with total contract traded at 1.59 lakh , PCR @0.82
  • 12000 CE  is having Highest OI  at 27.9 Lakh, resistance at 12000 followed by 12100 .11000-11800 CE added 3.4 Lakh in OI so bears added position in range of 11800-12000.
  • 11700 PE OI@35.8Lakhs having the highest OI strong support at 11700 followed by 11600 . 11000-11700 PE added  49 Lakh in OI so bulls added  position in range 11600-11700.

Buy above 11844 Tgt 11871,11896 and 11932  (Nifty Spot Levels)

Sell below 11810 Tgt 11780,11755 and 11733  (Nifty Spot Levels)

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