Finally Bear Day FII sold 951 contract of Index Future worth 67 cores, Net OI has increased by 501 contract 225 Long contract were covered by FII and 726 Shorts were added by FII. Net FII Long Short ratio at 1.6 so FII used fall to exit longs and enter shorts so longs were booked and small shorts entered in the system
As Discussed in Last AnalysisIt is very interesting to note that FII bought more options than what they sold. That is another indication for me that a directional move is round the corner and a move of 200-300 points will be seen in single trading session, Range of 15791-15854 is crucial gann zone of resistance. Now Bulls need to move above 15791 for a move back to 15854/15917/15980. Bears will get active below 15720 for a move towards 15665/15603/15541. Bears again got whipsawed and Bulls unable to break 15791 so again a rangebound move. Volume have collapsed in Index Futures, No Change in Plan Bulls need to move above 15791 for a move back to 15854/15917/15980. Bears will get active below 15720 for a move towards 15665/15603/15541.
Total Future & Option trading volume at 30.2 Lakh core with total contract traded 0.68 lakh , PCR @0.81
Nifty June Future Open Interest Volume is at 1.08 Cores with addition of 1.2 Lakh with decrease in cost of carry suggesting LONG position were closed today, NF Rollover cost @15296 closed above it.
15900 CE is having Highest OI at 28.8 Lakh, resistance at 15900 followed by 16000. 15700-15900 CE added 24 Lakh in OI so bears added in range of 15700-15800.FII bought 26.9 K CE and 30.8 K CE were shorted by them. Retailers bought 231 K CE and 195 K CE were shorted by them.
15500 PE OI@32 Lakhs having the highest OI strong support at 15500 followed by 15400. 15500-15600 PE added 12 Lakh in OI so bulls addded position in range 15500-15600. FII bought 13.2 K PE and 365 PE were shorted by them. Retailers bought 62.5 K PE and 80.3 K PE were shorted by them.
FII’s bought 1422 cores and DII’s sold 1626 cores in cash segment.INR closed at 72.95