FII sold 10.6 K contract of Index Future worth 871 cores, Net OI has increased by 5.2 K contract 206 K Long contract were covered by FII and 7.9 K Shorts were added by FII. Net FII Long Short ratio at 0.32 so FII used rise to exit long and enter short in Index Futures.
As Discussed in Last Analysis Tommrow we can see big move as NIfty has formed an Outside bar Pattern today and price is near gann angle support zone as shown below. For Swing Traders Bulls need to move above 16405 for a move towards 16469/16534/16599. Bears will get active below 16340 for a move towards 16275/16212/16166/16108. We got a perfect bounce from gann angle and bulls were able to do 1 target on upside and now waiting for 16534/16599.
12 June is important astro date “RULE NO. 38 MERCURY LATITUDE HELIOCENTRIC Some mighty fine tops and bottoms are produced when Mercury in this motion passes the above mentioned degrees 0, 3*21,6*42, and 7*0’” so carry overnight positons with Hedge.
RBI Policy outcome will come after 10:30 AM. Once the RBI Governor Stop speaking take position after that only, Till 10:39 AM we can see wild swings. Saturn is in Retrograde in Aquarius.Interest rates will go up for sure but it remains to be seen by how much.Any hike or any comment which indicates more than anticipated rate might dampen the mood further and could keep our markets in corrective mode. So just keep an eye your postions especially in F & O. However dip should be used to buy as the markets could bounce sharply as Moon goes Declination on 10 June — Worked Perfectly
Intraday time for reversal can be at 9:15/10:20/11:08/1:47/3:03 How to Find and Trade Intraday Reversal Times
MAX Pain is at 16500 PCR at 0.88 PCR below 0.89 and above 1.3 lead to trending moves, and in between leads to range bound markets.Nifty rollover cost @ 16139and Rollover @69.6 %.
Nifty May Future Open Interest Volume is at 1.16 Cores with addition of 4.9 Lakh with increase in cost of carry suggesting LONG positions were added today.
Maximum Call open interest of 18 lakh contracts was seen at 16600 strike, which will act as a crucial resistance level and Maximum PUT open interest of 21 lakh contracts was seen at 16300 strike, which will act as a crucial Support level
FII’s sold 1512 cores and DII’s bought 1624 cores in cash segment.INR closed at 77.81
For Positional Traders Stay long till we are holding Trend Change Level 16473 and stay short below it. That will help you stay on the side of Institutions and which has a greater risk-reward ratio. For Intraday Traders 16418 will act as a Intraday Trend Change Level.