Nifty Technical Analysis Venus at Inferior Conjunction

  • FII bought 5.5 K contract of Index Future worth 356 cores, Net OI has increased by 7.3 K contract, 6.4 K Long contract were added by FII and 865 shorts were added by FII. Net FII Long Short ratio at 1.50, So FII used rise to enter longs and enter shorts.
  •  As discussed in last analysis  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. As discussed in Below Video We have an Important Astro Date which comes once in 1.5 year and lead to big move in market.We have done all bullish target above 9800. Now Bulls need to move above 10023 for a move back to 10073/10123. Bears will get active below 9920 for a move back to 9873/9824/9743.

  • Total Future & Option trading volume at 11.79 Lakh core with total contract traded at 2.1 lakh , PCR @0.83
  • Nifty June Future Open Interest Volume is at 1.07 Lakh core with addition of 7 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 24 Lakh, resistance at 10100 followed by 10200.9600-10000 CE liquidated 1.7 Lakh in OI so bears covered in range of 9900-10000.FII bought 17.8 K CE and 4 K CE were shorted by them. Retailers bought 25.6 K CE and 39.8 K  CE were shorted by them.
  • 9800 PE OI@21 Lakhs having the highest OI strong support at 9800 followed by 9700. 9200-9600 PE added 33  Lakh in OI so bulls added position in range 9800 -9900.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 7498 cores and DII’s sold 441 cores in cash segment.INR closed at 75.33

Buy Above 10000 Tgt 10023,10055 and 10100 (Nifty Spot Levels)

Sell Below 9956 Tgt 9932,9900 and 9870(opens in a ne (Nifty Spot Levels)

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