Nifty Analysis as Mercury Reaches Max Elongation

  • FII sold 16.7 K contract of Index Future worth 531 cores, Net OI has decreased by 13.9 K contract, 15.1 K Long contract were covered by FII and 1.6 K shorts were added by FII. Net FII Long Short ratio at 1.32, So FII used fall to exit longs and enter shorts.
  •  As discussed in last analysis  As per below video today High and Low will be very important for next 200-300 points move in nifty.Nifty bulls need to move above 10150 for a move back to 10201/10253. Bears will get active below 10000 for a move back to 9920/9850.Bears did low of 9944 waiting for target of 9920/9850.As today High and low is important due to Mercury at Maximum Elongation as shown in below video Break of today high and low can see move of 150-200 points. Nifty bulls need to move above 10060 for a move back to 10125/10200/10251. Bears will get active below 9999 for a move back to 9920/9850/9777.

 

  • Total Future & Option trading volume at 22.5 Lakh core with total contract traded at 2.3 lakh , PCR @0.98
  • Nifty June Future Open Interest Volume is at 1 Lakh core with liquidation of 3.8 Lakh with decrease in cost of carry suggesting short position were added today, NF Rollover cost @9164 closed above it.
  • 10200 CE is having Highest OI at 4 Lakh, resistance at 10200 followed by 10300.10000-10300 CE added 2 Lakh in OI so bears covered in range of 10200-10300.
  • 10000 PE OI@2 Lakhs having the highest OI strong support at 10000 followed by 9900. 9800-10100 PE added 3  Lakh in OI so bulls added position in range 10000 -10100.
  • FII’s bought 2905 cores and DII’s sold 847 cores in cash segment.INR closed at 75.72

Buy Above 10060 Tgt 10090,10123 and 10170 (Nifty Spot Levels)

Sell Below 9999 Tgt 9960,9920 and 9870 (opens in a ne (Nifty Spot Levels)

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