Nifty continue to rally holding Time Cycle low ,EOD Analysis

By | June 7, 2018 7:50 pm

  • FII’s bought 2 K contract of Index Future worth 100 cores ,8.4 K Long contract were added by FII’s and 6.3  K Short contracts were added by FII’s. Net Open Interest increased  by 14.7 K contract, so rise in market was used by FII’s to enter long and enter short in  Index futures.  FII’s Long to Short Ratio at 0.78. How to Control Emotions While trading
  • As Discussed in Last Analysis   Nifty moved as per our expectation we got a 100 pointer rally on the astrological date as we forecasted 2 days before, Bulls did 10665 and waiting for next target of 10735. Close above 10735 is bullish and we can see move back to 10800/10888. Bearish below 10610 for a move back to 10555/10480. High made today  10818 so we got the gap up and we did our target of 10800 so we were able to capture the whole move from 10555-10800 in just 3 trading sessions. Now as long as we are trading above 10730 we can see move towards 10852/10920. Bearish below 10700 for a move towards 10645/10580. Important intraday time for reversal can be at 10:30/2:09.  Bank Nifty continue to rally holding Time Cycle low ,EOD Analysis

  • Nifty June Future Open Interest Volume is at 2.18 core with addition of 11.9 Lakh with decrease in  cost of carry suggesting long position were closed today, NF Rollover cost @10656 closed above it.
  • 11000 CE  is having Highest OI  at 39.9 Lakh, resistance at 10800 followed by 10900 .10300-11000 CE liquidated 14.3 lakh in OI so bears  covered in range of 10700-11000 CE. FII bought 10.9 K CE and 28.5 K shorted CE were covered by them. Retail sold 241 K CE and 120 K shorted CE were covered  by them.

 

  • 10600 PE OI@43.2 lakhs having the highest OI strong support at 10600 followed by 10700 . 10300-11000 PE  added 22.3 Lakh in OI so bulls added position in range 10300-10600 PE. FII sold 1.8 K PE and 5.6 K shorted PE were covered by them. Retail sold 57.7 K PE and 66.1 K shorted PE were covered  by them.
  • Total Future & Option trading volume at 18.18 Lakh core with total contract traded at 1.34 lakh , PCR @0.81

 

  • FII’s sold 525 cores  and DII’s bought 1197 cores in cash segment.INR closed at 67.12

 

Buy above 10777 Tgt 10795,10816 and 10850 (Nifty Spot Levels)

Sell below 10750 Tgt 10722,10700 and 10685 (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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