Nifty Technical Analysis as New Gann Time Cycle Starts

  • FII sold 2.3 K contract of Index Future worth 136 cores, Net OI has increased by 6.8 K contract, 2.2 K Long contract were added by FII and 4.6  shorts were added by FII. Net FII Long Short ratio at 1.40, So FII used rise to enter longs and enter shorts.
  •  As discussed in last analysis  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. All Bullish target done, now Bulls need to defend range of 9770-9800 for the up move to continue towards 9889/9970. Bears will get active below 9743 for a move back to 9666/9600. 02 June we are completing Important gann cycle which started from 24 March, Suggesting another big move round the corner.

  • Total Future & Option trading volume at 11 Lakh core with total contract traded at 2.4 lakh , PCR @0.78
  • Nifty June Future Open Interest Volume is at 0.99 Lakh core with addition of 1 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @9164 closed above it.
  • 10000 CE is having Highest OI at 14 Lakh, resistance at 9900 followed by 10000.9600-10000 CE added 18.5 Lakh in OI so bears added in range of 9900-10000.FII bought 19.2 K CE and 24.5 K CE were shorted by them. Retailers bought 151 K CE and 98 K  CE were shorted by them.
  • 9600 PE OI@22 Lakhs having the highest OI strong support at 9600 followed by 9500. 9200-9600 PE added 16.7 Lakh in OI so bulls added position in range 9500 -9600.FII bought 13.4 K PE and 9.1 K PE were shorted by them. Retailers bought 146 K PE and 120 K PE were shorted by them
  • FII’s bought 1575 cores and DII’s sold 459 cores in cash segment.INR closed at 75.72

Buy Above 9843 Tgt 9870,9900 and 9940 (Nifty Spot Levels)

Sell Below 9800 Tgt 9770,9743 and 9710 (opens in a ne (Nifty Spot Levels)

Leave a Reply