Nifty Preparing itself for a Big Move

  

Nifty Preparing itself for a Big Move – Bramesh’s Technical Analysis
  • Another BULL Day FII bought 4.2 K contract of Index Future worth 515 cores, Net OI has decreased by 2.3 K contract 969 Long contract were added by FII and 3 K Shorts were added by FII. Net FII Long Short ratio at 1.8  so FII used rise to enter longs and exit shorts so again longs are in the system.
  • As Discussed in Last Analysis Low made today was 15611 so Bulls got an entry and did 1 target on upside and now waiting for 15743/15843.  Bears need to break 15600  for a move back to 15541/15455/15382/15323. When everything looks safe and bullish to you, it is selling time. When there are media stories that world is going to collapse, time to buy. Is trend really the friend? For the last 2 trading days – it is very interesting to note that FII bought more options than what they sold. That is another indication for me that a directional move is round the corner and a move of 200-300 points will be seen in single trading session, Range of 15791-15854 is crucial gann zone of resistance. Now Bulls need to move above 15791 for a move back to 15854/15917/15980. Bears will get active below 15720 for a move towards 15665/15603/15541.
  • Total Future & Option trading volume at 26.2 Lakh core with total contract traded 0.61 lakh , PCR @0.85
  • Nifty June Future Open Interest Volume is at 1.7 Cores with addition of 2.3 Lakh with increase in cost of carry suggesting LONG position were closed today, NF Rollover cost @15296 closed above it. 
  • 15900 CE is having Highest OI at 24.8 Lakh, resistance at 15900 followed by 16000. 15700-15900 CE added 14 Lakh in OI so bears added in range of 15700-15800.FII bought 34.4 K CE and 18 K CE were shorted by them. Retailers bought 112 K CE and 124 K CE were shorted by them.
  • 15500 PE [email protected] Lakhs having the highest OI strong support at 15500 followed by 15400. 15500-15600 PE added 18.9  Lakh in OI so bulls addded position in range 15500-15600. FII sold 30.3 K PE and 20.6 K PE were shorted by them. Retailers bought 156 K PE and 155 K PE were shorted by them.
  • FII’s sold 186 cores and DII’s bought 983 cores in cash segment.INR closed at 72.90

Buy Above 15773  Tgt 15791,15824 and 15864 (Nifty Spot Levels)

Sell Below 15721 Tgt 15699, 15666 and 15636 (Nifty Spot Levels)



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