RBI Policy Impact on Nifty

By | June 3, 2021 10:37 pm
  • FII bought 4.6 K contract of Index Future worth 559 cores, Net OI has increased by 5.1 K contract 4.9 K Long contract were added by FII and 292 Shorts were added by FII. Net FII Long Short ratio at 1.2  so FII used rise to enter longs and enter shorts.
  • As Discussed in Last Analysis Plan remains the same Bulls need to hold this level of 15541 and close above 15610 for the move to contiue towards 15668/15743/15843, Bears need to break 15525  for a move back to 15455/15382/15323. Low made today was 15611 so Bulls got an entry and did 1 target on upside and now waiting for 15743/15843. As RBI Policy will come tommrow try to 30 mins after policy announcement to capture the trend, Bears need to break 15600  for a move back to 15541/15455/15382/15323. Price is back to gann angle resistance so cautious on longs and trail your positions. All Dips in curent week were bought and it can be classic case of Buy Rumuor Sell News kind of day as price and time cycle are meeting.
  • Total Future & Option trading volume at 80.75 Lakh core with total contract traded 0.79 lakh , PCR @0.91
  • Nifty June Future Open Interest Volume is at 1.04 Cores with addition of 4 Lakh with increase 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 15700 followed by 15800. 15500-15700 CE added 24 Lakh in OI so bears added in range of 15600-15700.
  • 15400 PE OI@19 Lakhs having the highest OI strong support at 15500 followed by 15400. 15400-15500 PE added 8.9  Lakh in OI so bulls addded position in range 15400-15500
  • FII’s bought 1079 cores and DII’s sold 278 cores in cash segment.INR closed at 73.20

Buy Above 15700  Tgt 15729,15763 and 15799 (Nifty Spot Levels)

Sell Below 15655 Tgt 15636, 15610 and 15575 (Nifty Spot Levels)

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