Nifty Bulls got rejected from gann angle 3 time,EOD Analysis

By | June 4, 2018 11:18 pm

  • FII’s bought 6.3 K contract of Index Future worth 553 cores ,5.3 K Long contract were added by FII’s and 994 Short contracts were liquidated by FII’s. Net Open Interest increased  by 4.3 K contract, so fall in market was used by FII’s to enter long and exit short in  Index futures.  FII’s Long to Short Ratio at 0.82. How to Control Emotions While trading
  • As Discussed in Last Analysis   Bullish above 10730 for a move back to 10800/10866. Bearish below 10656 for a move back to 10610/10570. As soon as 10656 broken  bears were on front foot and did low of 10618 near our target of 10610. 06 June is an important astrological date around which nifty has formed a bottom in past, So bulls need a close above 10656 for a move back to 10730/10770.Bearish below 10610 for a move towards 10555/10512. Important intraday time for reversal can be at 10:59/2:39. Bank Nifty Bulls hold gann angle after 1000 point correction

  • Nifty June Future Open Interest Volume is at 2 core with addition of 8.5 Lakh with decrease in  cost of carry suggesting long position were closed today, NF Rollover cost @10656 closed below it.
  • 11000 CE  is having Highest OI  at 39.7 Lakh, resistance at 10800 followed by 10700 .10300-11000 CE added 25.9 lakh in OI so bears added position  in range of 10700-11000 CE. FII bought 3.9 K CE and 15.3 K CE were shorted by them. Retail bought 146 K CE and 81.8  K CE were shorted by them.

 

  • 10600 PE OI@34.6 lakhs having the highest OI strong support at 10600 followed by 10700 . 10300-11000 PE  added 7.5 Lakh in OI so bulls added position in 10300-10600 PE. FII bought 19.5 K PE and 9.7 K PE were shorted by them. Retail bought 3.3 K PE and 25.2 K shorted PE were covered by them.
  • Total Future & Option trading volume at 6.43 Lakh core with total contract traded at 1.28 lakh , PCR @0.81

 

  • FII’s bought 2354 cores  and DII’s sold 712 cores in cash segment.INR closed at 67.07

 

Buy above 10636 Tgt 10654,10672 and 10700(Nifty Spot Levels)

Sell below 10610 Tgt 10590,10574 and 10500 (Nifty Spot Levels)

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Category: Nifty Technical Analysis

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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