Nifty Analysis for 29 May

  •  As discussed in last analysis  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. All Bullish target done, Bulls need to move above 9512 for a move back to 9555/9610/9666. Bears will get active below 9420 for a move back to 9370/9300.

  • Total Future & Option trading volume at 29 Lakh core with total contract traded at 2.2 lakh , PCR @0.85
  • Nifty June Future Open Interest Volume is at 0.95 Lakh core with addition of 22 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @9164 closed above it.
  • 9600 CE is having Highest OI at 3 Lakh, resistance at 9600 followed by 9700.9200-9600 CE added 4.5 Lakh in OI so bears added in range of 9600-9700.
  • 9200 PE OI@2 Lakhs having the highest OI strong support at 9200 followed by 9100. 9000-9200 PE added 6.7 Lakh in OI so bulls added position in range 9100 -9200.
  • FII’s sold 334 cores and DII’s bought 2408 cores in cash segment.INR closed at 75.65

Buy Above 9512 Tgt 9530,9555 and 9600 (Nifty Spot Levels)

Sell Below 9465 Tgt 9445,9420 and 9390(opens in a ne (Nifty Spot Levels)

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