Nifty Time Cycle show effect on RBI Day

  • FII’s sold 14 K contract of Index Future worth 1473 cores 727 Long contract were added by FII’s and 15.3 K Short contracts were added by FII’s. Net Open Interest increased  by 16 K contract, so fall in Nifty was used by FII’s to exit long and enter short in  Index futures.FII’s Long to Short Ratio at 1.32 How Comfortable you are with your trading ?
  • As Discussed in Last Analysis   We have RBI Policy tomorrow, Bulls failed to hold range of 12039-12045 and closed below it,Bears will get active below 12020 for a move back to 11966/11910.
  • Time Cycle always give an additional Edge in the Market,Nifty did not close above 12103 and once below 04 June Time Cycle low Bears got upper hand and  did target till 11910 fall of almost 200 points in single day. 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 June Future Open Interest Volume is at 1.93 core with addition  of 0.30  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 24.7 Lakh core with total contract traded at 1.69 lakh , PCR @0.81
  • 12000 CE  is having Highest OI  at 18.9 Lakh, resistance at 12000 followed by 12100 .11000-11800 CE added 8.6 Lakh in OI so bears added position in range of 11800-12000.
  • 11800 PE OI@18.2 Lakhs having the highest OI strong support at 11800 followed by 11700 . 11000-11700 PE added 3.4 Lakh in OI so bulls added position in range 11700-11800,no major liquidation after big fall

Buy above 11860 Tgt 11885,11910 and 11943 (Nifty Spot Levels)

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

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4 thoughts on “Nifty Time Cycle show effect on RBI Day”

  1. I am daily following your levels . My great wishes for your hard work and help you are providing to us . Thank You Sir………….

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