Nifty May Expiry Forecast

By | May 28, 2014

FII_1

  • FII’s bought 19.3K contract of Index Futures worth 714 cores (34.6 K  longs were added and  15.3 K shorts were added in Index Future) with net OI increasing by 50  K contracts.FII’s went aggressively long in Index Futures, are they preparing themselves for RBI policy on 3 June.
  • Nifty is forming a triangle on daily charts, height of triangle comes at 434 points. Now to complete the triangle formation market has to give one rally on upside near 7380-7400 zone. Triangle patterns success is around 50% so do caution is advised.
nifty daily
  • Nifty Future May Open Interest Volume is at 1.45  cores with liquidation of of 20.3  lakhs in Open Interest, and 24 lakhs got rollovered to June series.As cost of carry is positive it seems longs got rollovered.Rollover cost is just 20 points as of todays closing quiet less as compared to other series.
  • Total Future & Option trading volume at 2.47  lakh core with total contract traded at 2  lakh.PCR @0.76
  • 7400 Nifty CE  is having highest OI at 660.1 lakhs as we have been discussing from past 2 trading session  seems smart money is selling 7400 CE and premium has come down to single digit :). Expiry seems to be around 7400 levels. FII’s sold 18.8 K CE longs and 15.4 K shorted CE  were covered by them.
  • 7300 PE  OI at 36.7  lakh  remains a strong support for tomorrow as 7.2 lakh PE were added .FII’s bought 6.6 K PE longs and 13.2 K PE were shorted  by them.

OI

  • FIIs sold 286 cores in Equity and DII sold 33 cores in cash segment.INR closed above 58.93.

Buy above 7338 Tgt 7360,7380 and 7420(Nifty Spot Levels)

Sell below 7300 Tgt 7270, 7250 and 7223 (Nifty Spot Levels)

Upper End of Expiry:7396

Lower End of Expiry:7262

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