Nifty Technical Analysis and Insights for 01 June

  • FII sold 10.2 K contract of Index Future worth 631 cores, Net OI has decreased by 12.1 K contract, 11.2 K Long contract were covered by FII and 914 shorts were covered by FII. Net FII Long Short ratio at 1.49, So FII used rise to exit longs and exit shorts.
  •  As discussed in last analysis  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. 9598 done,Till we holding 9520 bulls have upperhand can rally towards 9666/9721. Bears will get active below 9480 for a move back to 9410/9376/9320.

  • Total Future & Option trading volume at 7.72 Lakh core with total contract traded at 2.1 lakh , PCR @0.79
  • Nifty June Future Open Interest Volume is at 0.98 Lakh core with addition of 1.3 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @9164 closed above it.
  • 9600 CE is having Highest OI at 4 Lakh, resistance at 9600 followed by 9700.9200-9600 CE added 8.5 Lakh in OI so bears added in range of 9600-9700.FII sold  20.7 K CE and 14 K CE were shorted by them. Retailers bought 72.7 K CE and 83.1 K  CE were shorted by them.
  • 9200 PE OI@12 Lakhs having the highest OI strong support at 9200 followed by 9100. 9000-9200 PE added 16.7 Lakh in OI so bulls added position in range 9100 -9200.FII bought 20.5 K PE and 22.4 K PE were shorted by them. Retailers bought 151 K PE and 132 K PE were shorted by them
  • FII’s bought 1460 cores and DII’s bought 967 cores in cash segment.INR closed at 75.75

Buy Above 9600 Tgt 9620,9660 and 9700 (Nifty Spot Levels)

Sell Below 9550 Tgt 9520,9485 and 9450(opens in a ne (Nifty Spot Levels)

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