Nifty near Gann Price Time Square

  • FII bought 2.4 K contract of Index Future worth 413 cores, Net OI has increased by 4.7 K contract 3.6 K Long contract were added by FII and 1.1 K Shorts were added by FII. Net FII Long Short ratio at 1.2  so FII used rise to exit longs and enter shorts.
  • As Discussed in Last Analysis  Bulls need to hold this level of 15541 and close above 15610 for the move to contiue towards 15668/15743/15843. Bears will get active below 15521 for a move back to 15485/15424/15385. High made today was 15660 almost near our 1 target of 15668, Now we are nearing an important gann price time  squaring as tommrow is 81 trading days from low made of 29 Jan, Venus Ingress  and we are near gann angle resistance as shown in below chart. Now Bears need to break 15517 for a move back to 15455/15382/15323. Bulls till above 15541 are safe but failure to close above 15610 will show trend is getting weaker.Bulls need to hold this level of 15541 and close above 15610 for the move to contiue towards 15668/15743/15843 
  • Total Future & Option trading volume at 30 Lakh core with total contract traded 1.05 lakh , PCR @0.79
  • Nifty June Future Open Interest Volume is at 1.05 Cores with addtion of 1.5 Lakh withdecrease in cost of carry suggesting LONG position were closed today, NF Rollover cost @15296 closed above it. 
  • 15700 CE is having Highest OI at 14.8 Lakh, resistance at 15600 followed by 15700. 15500-15700 CE added 24 Lakh in OI so bears added in range of 15600-15700. FII bought 54.5 K CE and 64.2 K CE were shorted by them. Retailers bought 283 K CE and 211 K CE were shorted by them.
  • 15400 PE OI@19 Lakhs having the highest OI strong support at 15400 followed by 15300. 15400-15500 PE added 28.9  Lakh in OI so bulls addded position in range 15400-15500. FII sold 5.7 K PE and 2.3 K Shorted PE were covered by them. Retailers bought 35.3 K PE and 67 K PE were shorted by them.
  • FII’s sold 449 cores and DII’s bought 230 cores in cash segment.INR closed at 73.16

Buy Above 15595 Tgt 15624,15650 and 15685 (Nifty Spot Levels)

Sell Below 15541 Tgt 15515, 15485 and 15455(Nifty Spot Levels)

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