Nifty EOD Analysis for 12 June

  • FII’s bought 11 K contracts of Index Futures worth 949 cores; 5.9 K Long contracts were added by FII’s and 5.1 K Short contracts were liquidated by FII’s. Net Open Interest increased  by 777 contracts, so a rise in Nifty was used by FII’s to enter long and exit shorts in Index futures. FII’s Long to Short Ratio is at 1.40 
  • As Discussed in Last Analysis, 10 is an important time cycle date suggesting we could have formed a short term bottom on 07 June. Till we are above 11910, bulls can rally towards 11987/12042/12100. Bears will get active below 11823 for a move back to 11769/11710.
  • 10987 was hit today as lows were made at 10904. Bulls will not get active above 11975 for a move back to 12041/12096. Bears will get active below 11877 for a move back to 11823/11769.

  • Nifty June Future Open Interest Volume is at 1.91 core with addition of 6.6 Lakh with a  decrease in the cost of carry suggesting short positions were closed today, NF Rollover cost is @11954 and closed above it.
  • Total Future & Option trading volume is at 9.24 Lakh core with the total contracts traded at 1.05 lakh , PCR @1.01
  • 12000 CE  is having a Highest OI  at 18.1 Lakh, resistance at 12000, followed by 12100. 11000-11800 CE liquidated 1.75 Lakh in OI, so bears covered positions in the range of 11800-12000. FII bought 14.3 K CE Long and 2.9 K shorted CE were by them. Retailers sold 56.9 K CE Long and 21.5 K CE were shorted by them.
  • 11800 PE OI@19.2 Lakhs having the highest OI strong support at 11800 followed by 11700. 11000-11700 PE added 3.2 Lakh in OI so bulls added positions in the range of 11700-11800. FII bought 7 K PE Long and 11.1 K PE were shorted by them. Retailers bought 132 K PE Long and 82.5 K PE were shorted by them.

Buy above 11987 Tgt 12014,12041 and 12077 (Nifty Spot Levels)

Sell below 11950 Tgt 11923,11910 and 11885 (Nifty Spot Levels)