Nifty Rallies After Price Time Squaring

  • FII’s sold 6.9 K contracts of Index Futures worth 236 cores; 9.4 K Long contracts were added by FII’s and 16.4 K Short contracts were added by FII’s. Net Open Interest increased by 25.9 K contract, so a rise in Nifty was used by FII’s to enter longs and enter shorts in Index futures. FII’s Long to Short Ratio at 1.36 
  • As Discussed in Last Analysis, we have seen an increase in volatility in the last 2 sessions, suggesting a trending move around the corner – Bulls will get active above 11727 for a move towards 11803/11857.
  • Gann Analysis helped us in capturing the trending move again, and above 11727 we hit 11844. Now Bulls need a close above 11865 for the rally to continue till 11925/11984/12024. Bears will get active below 11785 for a move back to 11733/11680/11625.

  • Nifty June Future Open Interest Volume is at 1.73 core with a liquidation of 5.1 Lakh and with a decrease in the cost of carry suggesting long positions were closed today, NF Rollover cost @11954 closed above it.
  • Total Future & Option trading volume is at 26.3 Lakh core with the total contracts traded at 1.59 lakh, PCR @0.82
  • 12000 CE is having a Highest OI at 27.9 Lakh, resistance at 12000 followed by 12100. 11000-11800 CE added 3.4 Lakh in OI, so bears added positions in the range of 11800-12000.
  • 11700 PE OI is @35.8 Lakhs, having the highest OI strong support at 11700 followed by 11600. 11000-11700 PE added 49 Lakh in OI, so bulls added positions in the range of 11600-11700.

Buy above 11844 Tgt 11871,11896 and 11932  (Nifty Spot Levels)

Sell below 11810 Tgt 11780,11755 and 11733  (Nifty Spot Levels)