Nifty Ready for a Big Move

FII’s bought 3.7 K contract of Index Future worth 316 cores 6.5 K Long contract were added by FII’s and 2.8 K Short contracts were added by FII’s. Net Open Interest increased by 9.3 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 1.36 How Comfortable you are with your trading ?

As Discussed in Last Analysis Fresh Positional long should be taken above 11740 for a move back to 11790/11848/11919. Bears will get active below 11681 for a move back to 11627/11573/11520.
Nifty Bulls and Bears again got whipsawed for 2 day in a row, These Kind of move test the discipline and patience of traders and it help you to become mentally strong. 24 June High and low are very important and we should see a good move in Nifty in next 2 days. Fresh Positional long should be taken above 11710 for a move back to 11790/11848/11919. Bears will get active below 11650 for a move back to 11600/11555/11485.

Important intraday time for reversal can be at 11:29/12:35/1:45/2:27 How to Find and Trade Intraday Reversal Times

Nifty June Future Open Interest Volume is at 1.56 core with liquidation of 11.4 Lakh with increase in cost of carry suggesting short position were closed today, NF Rollover cost @11954 closed above it.

Total Future & Option trading volume at 8.03 Lakh core with total contract traded at 1.09 lakh , PCR @0.93

12000 CE is having Highest OI at 39.2 Lakh, resistance at 12000 followed by 12100 .11000-11800 CE added 14.4 Lakh in OI so bears added position in range of 11800-12000.FII bought 4.9 K CE long and 4.1 K CE were shorted by them. Retail bought 86.5 K CE and 54.6 K CE were shorted by them.

11700 PE OI@28.5 Lakhs having the highest OI strong support at 11700 followed by 11600 . 11000-11700 PE liquidated 6.7 Lakh in OI so bulls covered position in range 11600-11700.FII bought 3.8 K PE long and 5.7 K PE were shorted by them. Retail bought 46.2 K PE and 34.3 K PE were shorted by them.

FII’s bought 207 cores and DII’s bought 984 cores in cash segment.INR closed at 69.27 Dollar to Rupee Forecast Lok Sabha Election Week

Nifty Futures Trend Deciding level is 11724 For Intraday Traders). NF Trend Changer Level (Positional Traders) 11879 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level