Nifty Analysis after India China Border Tension

  • FII bought 2.3 K contract of Index Future worth 355 cores, Net OI has decreased by 6.3 K contract, 1.2 K  Long contract were covered by FII and 1 K Shorts were covered by FII. Net FII Long Short ratio at 0.91, So FII used fall to exit longs and exit shorts.
  •  As discussed in last analysis  Now bull need to close above 9840 for a move back to 9900/9970/10036. Bears will get active below 9777 for a move back to 9720/9666/9610. Nifty opened with Huge Gap up and levels we gave on Twitter did all target on downside. Now Nifty Bulls need to move above 9950 for a move towards 10000/10060/10120. Bears will get active below 9887 for a move back to 9821/9777/9721. Days Like this make a short term top or Bottom in Market. Last time we fall on Surgical Strike 2 and made short term bottom on 27 Feb 2019

 

  • Total Future & Option trading volume at 16.92  Lakh core with total contract traded at 3.3 lakh , PCR @1.06
  • Nifty June Future Open Interest Volume is at 0.98 Lakh core with liquidation of 8 Lakh with increase in cost of carry suggesting short position were closed today, NF Rollover cost @9164 closed above it.
  • 10000 CE is having Highest OI at 11 Lakh, resistance at 10000 followed by 10100.9900-10200 CE added 12 Lakh in OI so bears added in range of 9900-10000.FII bought 8.2 K CE and 8.4 K CE were shorted by them. Retailers bought 21 K CE and 23 K  CE were shorted by them.
  • 9700 PE OI@18 Lakhs having the highest OI strong support at 9700 followed by 9600. 9600-9800 PE added 23  Lakh in OI so bulls added position in range 9600-9700.FII bought 2.8 K PE and 3.5 K PE were shorted by them. Retailers sold 3.3 K PE and 1.1 K PE were shorted by them
  • FII’s sold 1478 cores and DII’s bought 1161 cores in cash segment.INR closed at 76.15

Buy Above 9950 Tgt 9980,10020 and 10060 (Nifty Spot Levels)

Sell Below 9885 Tgt 9850,9821 and 9790(opens in a ne (Nifty Spot Levels)

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