Nifty Strategy for Tomorrow

By | July 2, 2020 9:35 pm

  • FII bought 11.3 K contract of Index Future worth 705 cores, Net OI has increased by  498 contract, 5.9 K Long contract were added by FII and 5.4 K Shorts were covered by FII. Net FII Long Short ratio at 0.93, So FII used fall to enter longs and exit shorts.
  •  As discussed in last analysis  Now Bulls need to close above 10451 for a move back to 10502/10555/10610 . Bears will get active below 10372 for a move back to 10337/10250/10190.Low made was 10485 so bulls were able to hold 10451 and almost did all target on upside. 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.

  • Total Future & Option trading volume at 36.59 Lakh core with total contract traded at 1.98 lakh , PCR @0.78
  • Nifty July Future Open Interest Volume is at 1.07 Cores with liquidation of 0.37 Lakh with decrease in cost of carry suggesting short position were closed today, NF Rollover cost @10325 closed above it.
  • 10600 CE is having Highest OI at 3 Lakh, resistance at 10600 followed by 10700.10200-10700 CE added 6 Lakh in OI so bears added in range of 10600-10800.
  • 10300 PE OI@8 Lakhs having the highest OI strong support at 10300 followed by 10200. 10100-10400 PE added 8  Lakh in OI so bulls added position in range 10300-10400.
  • FII’s sold 556 cores and DII’s bought 908 cores in cash segment.INR closed at 74.85

Buy Above 10570 Tgt 10595,10618 and 10646 (Nifty Spot Levels)

Sell Below 10525 Tgt 10495,10470 and 10444(opens in a ne (Nifty Spot Levels)

Category: Daily

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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