Nifty Gann Analysis

  • FII bought 6.7 K contract of Index Future worth 504 cores, Net OI has increased by  4 K contract, 5.4 K Long contract were added by FII and 1.3 K Shorts were covered by FII. Net FII Long Short ratio at 1, So FII used rise to enter longs and exit shorts.
  •  As discussed in last analysis We are near gann angle resistance suggesting good move should be seen, and also we have confluence of time cycle date on 04-05 Jul suggesting possible price time squaring.Now Bulls need to close above 10570 for a move back to 10618/10666/10721. Bears will get active below 10490 for a move back to 10430/10380.Low made was 10562 so bulls got a chance to enter at 10570 and did 10618. Nifty has crossed above gann angle and closed above it for 2 day suggesting we can rally towards 10890-10900 possible till we are holding 10540 levels and close above 10618. Bulls need a close above 10618 for a move back to 10666/10733/10800/10890. Bears will get active below 10525 for a move back to 10476/10425/10374.

  • Total Future & Option trading volume at 7.6 Lakh core with total contract traded at 1.54 lakh , PCR @0.97
  • Nifty July Future Open Interest Volume is at 1.09 Cores with addition of 2.4 Lakh with decrease in cost of carry suggesting long position were added today, NF Rollover cost @10325 closed above it.
  • 10800 CE is having Highest OI at 19.1 Lakh, resistance at 10800 followed by 10900.10200-10700 CE added 36 Lakh in OI so bears added in range of 10600-10800.FII bought 10.8 K CE and 6 K CE were shorted by them. Retailers bought 171 K CE and 162 K  CE were shorted by them.
  • 10300 PE OI@30 Lakhs having the highest OI strong support at 10300 followed by 10200. 10100-10400 PE added 48  Lakh in OI so bulls added position in range 10300-10400.FII bought 12.7 K PE and 10.2 K PE were shorted by them. Retailers bought 146 K PE and 147 K PE were shorted by them.
  • FII’s Bought 857 cores and DII’s sold 331 cores in cash segment.INR closed at 74.83

Buy Above 10640 Tgt 10666,10699 and 10721 (Nifty Spot Levels)

Sell Below 10560 Tgt 10535,10510 and 10470opens in a ne (Nifty Spot Levels)

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