Gann Time Cycle Effect Nifty rallies 300 points

  • FII bought 30.9  K contract of Index Future worth 1664 cores, Net OI has increased by 40 K contract, 35.5 K Long contract were added by FII and 4.6  K shorts were added by FII. Net FII Long Short ratio at 1.12, So FII used rise to enter longs and enter shorts.
  •  As discussed in last analysis  We are near Gann Angle Support on Gann 10 Year Cycle date,suggesting big move round the corner.Nifty bulls need to move above 9065 for  move towards 9111/9161/9225. Bears will become active below 8971 for a move towards 8924/8877/8830.We saw the effect of Gann Time Cycle Low made was 9004 and bulls did all target on upside above 9065 and bounced from gann angle. Now Bulls need to move above 9340 for a move towards 9400/9466. Bears will get active below 9260 for a move back to 9216/9170.

  • Total Future & Option trading volume at 17.7 Lakh core with total contract traded at 2.72 lakh , PCR @0.85
  • Nifty June Future Open Interest Volume is at 0.73 Lakh core with addition of 31 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @9508 closed below it.
  • 9300 CE is having Highest OI at 30 Lakh, resistance at 9300 followed by 9400.9000-9400 CE added 24.5 Lakh in OI so bears added in range of 9200-9300.FII bought 23.8 K CE and 10.3 K shorted CE were covered by them. Retailers sold 147 K CE and 64.5 K shorted CE were covered by them.
  • 9200 PE OI@42 Lakhs having the highest OI strong support at 9200 followed by 9100. 9000-9200 PE added 26.7 Lakh in OI so bulls added position in range 9100 -9200.FII bought 12.6 K PE and 21.9 K PE were shorted by them. Retailers bought 259 K PE and 155 K PE were shorted by them
  • FII’s sold 334 cores and DII’s bought 2408 cores in cash segment.INR closed at 75.65

Buy Above 9340 Tgt 9370,9400 and 9431 (Nifty Spot Levels)

Sell Below 9265 Tgt 9240,9210 and 9170(opens in a ne (Nifty Spot Levels)

Upper End of Expiry : 9467

Lower End of Expiry : 9162

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