Nifty Analysis for 08 June

  • FII sold 5.5 K contract of Index Future worth 345 cores, Net OI has increased by 12.2 K contract, 3.3 K Long contract were added by FII and 8.8 K shorts were added by FII. Net FII Long Short ratio at 1.1, So FII used rise to enter longs and enter shorts.
  •  As discussed in last analysis  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 9920/9850/9777.2 Bullish target done above 10060 .Till Bulls are above 10170 can rally towards 10257/10336. Bears will have there chance below 10100 for a move back to 10040/9970.

  • Total Future & Option trading volume at 8.79 Lakh core with total contract traded at 2 lakh , PCR @0.81
  • Nifty June Future Open Interest Volume is at 1.03 Lakh core with addition of 2.7 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @9164 closed above it.
  • 10300 CE is having Highest OI at 4 Lakh, resistance at 10300 followed by 10400.10000-10400 CE added 12 Lakh in OI so bears covered in range of 10200-10300.FII bought 44.4 K CE and 31.9 K CE were shorted by them. Retailers bought 106 K CE and 116 K  CE were shorted by them.
  • 10000 PE OI@12 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 sold 17.3  K PE and 19.3 K PE were shorted by them. Retailers bought 198 K PE and 170 K PE were shorted by them.
  • FII’s bought 97 cores and DII’s bought 47 cores in cash segment.INR closed at 75.80

Buy Above 10257 Tgt 10300,10343 and 10400 (Nifty Spot Levels)

Sell Below 10170 Tgt 10140,10100 and 10060(opens in a ne (Nifty Spot Levels)

Leave a Reply