Nifty heading to new life high holding Low of Time Cycle

Monday, June 19 Leave a Comment

  • FII's bought 2.2 K contract of Index Future worth 145 cores ,743 Long contract were liquidated by FII's and 2.9 K Short contracts were liquidated by FII's. Net Open Interest decreased  by 3.6 K contract, so rise in market was used by FII's to exit long and exit short in  Index futures. As discussed in last analysis  FII's Long to Short Ratio maintained at 2.9 double bottom in FII Long to Short Ratio. Nifty made bottom on Friday and saw a good rally today.  The Missing Watch
  • As discussed in last analysis   17 June is important trend change date as per geometric time cycle as it being holiday we should see effect either tomorrow or Monday.  Nifty continue to close below gann angle, but in the process formed an Inside bar pattern. Bullish above 9610 for a move towards 9660/9720/9770. Till we are closing below 9595 bears have upper hand and can push 9520/9480.As we discussed 17 June is important trend change day so low made on Friday is important ie.9565 holding the same we can continue to move higher towards our target. Nifty opened

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