Nifty Ready For Another Big Move

  • FII’s bought 24.6  K contract of Index Future worth 2295 cores 21.4 K Long contract were added by FII’s and 3.3 K Short contracts were covered by FII’s. Net Open Interest increased by 18.2 K contract, so rise in Nifty was used by FII’s to enter long and exit short in  Index futures. FII’s Long to Short Ratio at 1.73
  • As Discussed in Last Analysis – Plan remains the same for Swing trader Till we are above 11910 bulls can move towards 12000/12041/12100, Bears will get active below 11810 for a move back to 11777/11721/11666/11610. 12100 done so we were able to capture the whole move from 11910 to 12100 , High made was 12103, precision of gann level. Now Bulls need to hold 12039-12045 range in case of correction for this upmove to continue further towards 12220/12300. Bears will get active below 12020 for a move back to 11966/11910. Today is an important time cycle date
  • Nifty June Future Open Interest Volume is at 1.97 core with addition of 15.9  Lakh with  decrease in  cost of carry suggesting short position were added today, NF Rollover cost @11954 closed below it
  • Total Future & Option trading volume at 17.6 Lakh core with total contract traded at 1.93 lakh , PCR @0.88
  • 12000 CE  is having Highest OI  at 14.3 Lakh, resistance at 12000 followed by 12100 .11000-11800 CE added 8.5 Lakh in OI so bears added position in range of 11800-12000. FII bought 13.4 K CE and 4.1 K CE were shorted  by them. Retail bought 164 K CE and 129 K CE were shorted by them.
  • 11700 PE OI@16 Lakhs having the highest OI strong support at 11700 followed by 11650 . 11000-11700 PE added 10 Lakh in OI so bulls added position in range 11600-11800 .FII bought 29.7 K PE and 6.3 K PE were shorted by them. Retail bought 40.8 K PE and 56.1 K PE were shorted by them.

Buy above 12105  Tgt 12129 ,12157 and 12184 (Nifty Spot Levels)

Sell below 12039 Tgt 12020,11992 and 11960  (Nifty Spot Levels)