- FII’s bought 7186 contract of Index Futures worth 264 cores (16.3 K longs were added and only 9.1 K shorts were added in Index Future) with net OI increasing by 25.5 K contracts.FII’s are going long in Index Futures.
- Nifty Hourly chart has formed a pennant pattern which suggests a breakout/breakdown is round the corner. As its Bull market the emphasize lies on breakout on upside. 7350 should be broken for nifty to move towards 7564. Breakdown below 7200 for short term target of 7150.Nifty today held on its 38.2% retracement at 6207 suggesting a buying happening at lower levels.
- Nifty Future May Open Interest Volume is at 2.21 cores with addition of of 5 lakhs in Open Interest, suggesting short addition.
- Total Future & Option trading volume at 1.76 lakh core with total contract traded at 2.4 lakh.PCR @0.82
- 7500 Nifty CE is having highest OI at 60 lakhs followed by 7400 CE ,7400 CE is also having an OI of 57.2 lakhs and it seems smart money is selling 7400 CE. FII’s bought 3.7 K CE longs and 7.5 K CE were shorted by them.
- 7000 PE is having highest OI at 52 lakh remains a strong support for the series. 7100 PE saw a good addition are upcoming support of the market. FII’s bought 45.5 K PE longs and 436 PE were shorted by them.
- FIIs sold 266 cores in Equity and DII sold 439cores in cash segment.INR closed above 58.77
Buy above 7261 Tgt 7291,7320,7353 and 7380(Nifty Spot Levels)
Sell below 7246 Tgt 7210, 7180 and 7150 (Nifty Spot Levels)
Click Here to Like Facebook Page get Real time updates