Ideas and Forecast on NIFTY for 16 June

  • FII sold 5.4 K contract of Index Future worth 355 cores, Net OI has decreased by 6.3 K contract, 5.8 K  Long contract were covered by FII and 460 shorts were covered by FII. Net FII Long Short ratio at 0.88, So FII used fall to exit longs and exit shorts.
  •  As discussed in last analysis  Now Bulls need to move above 10000 for a move back to 10055/10100/10143. Bears will get active below 9900 for a move towards 9840/9770/9700.High made was 9944 once 9900 was broken 2 bearish target done. 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.We have seen the impact of a bearish aspect as discussed in below video.

  • Total Future & Option trading volume at 12.02  Lakh core with total contract traded at 2.7  lakh , PCR @0.93
  • 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 10 Lakh, resistance at 10000 followed by 10100.9900-10200 CE added 22 Lakh in OI so bears added in range of 9900-10000.FII bought 1.7 K CE and 8.2 K CE were shorted by them. Retailers bought 165 K CE and 117 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 13  Lakh in OI so bulls added position in range 9600-9700.FII bought 17.3 K PE and 6.4 K PE were shorted by them. Retailers bought 64.6 K PE and 58 K PE were shorted by them
  • FII’s sold 2960 cores and DII’s bought 1076 cores in cash segment.INR closed at 76.15

Buy Above 9840 Tgt 9880,9930 and 9980 (Nifty Spot Levels)

Sell Below 9790 Tgt 9760,9725 and 9680(opens in a ne (Nifty Spot Levels)

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