Nifty Forms Another DOJI

  • FII’s sold 2.4 K contracts of Index Futures worth 75 cores; 5.3 K Long contracts were liquidated by FII’s and 2.8 K Short contracts were liquidated by FII’s. Net Open Interest increased  by 3.5 K contract, so fall in Nifty was used by FII’s to exit long and exit short in Index futures. FII’s Long to Short Ratio at 1.27
  • As Discussed in Last Analysis,10 is an important time cycle date suggesting we could have formed a short term bottom on 07 June and in for a rally towards 11932/11987/12041. Bears will get active below 11810 for a move back to 11777/11721/11666.
  • A high was made today above 11910. 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.

  • Nifty June Future Open Interest Volume is at 1.84 cores with a liquidation of 0.70  Lakh and with an increase in cost of carry suggesting short positions were closed today, NF Rollover cost @11954 closed below it.
  • Total Future & Option trading volume at 9.48 Lakh core with total contracts traded at 1.10 lakh, PCR @1.01
  • 12000 CE  is having a Highest OI at 19.2 Lakh, resistance at 12000 followed by 12100. 11000-11800 CE added 0.58 Lakh in OI so bears added positions in the range of 11800-12000. FII bought 4.2 K CE Long and 3.4 K CE were shorted by them. Retailers bought 106 K CE Long and 75.7 K CE were shorted by them.
  • 11800 PE OI@17.5 Lakhs having the highest OI strong support at 11800 followed by 11700. 11000-11700 PE added 2.2 Lakh in OI so bulls added positions in the range of 11700-11800. FII bought 7.4 K PE Long and 4.6 K PE were shorted by them. Retailers bought 61.6 K PE Long and 46 K PE were shorted by them.

Buy above 11932 Tgt 11960,11990 and 12010 (Nifty Spot Levels)

Sell below 11900 Tgt 11870,11841 and 11821 (Nifty Spot Levels)