- FII’s sold 23.8 K contract of Index Futures worth 889 cores (20.8 K longs were squared off and 3 K shorts were added in Index Future) with net OI decreasing by 17.7 K contracts.FII’s added shorts today also and use the rise to exit the market..
- As discussed in Weekly Analysis Nifty as per Gann grid is having strong support at red line marked by Green arrow continued its journey on upside and close above red line. Next level of resistance comes at 7500-7519 range yellow line shown in Gann Box. As per EW we have strong support at 7440-7450 range which if sustained can see break of 7564 in next few session. Hope traders are enjoying the ride on upside after treading the analysis.
- Nifty Future May Open Interest Volume is at 1.40 cores with liquidation of of 10.7 lakhs in Open Interest, suggesting short liquidation.
- Total Future & Option trading volume at 1.71 lakh core with total contract traded at 2.8 lakh.PCR @0.80
- 7500 Nifty CE is having highest OI at 57.8 lakhs remains the strong resistance of the market, followed by 7600 CE.IV’s of Calls have moved up but still no major change in IV suggesting bullish bias continues market participants. FII’s bought 20.2 K CE longs and 1 K CE were shorted by them.
- 7200 PE OI at 40.5 lakh remains a strong support from start of series, 7300 PE added 6.4 lakhs suggesting support at 7300 for next few days, .FII’s bought 3.4 K PE longs and 6.9 K PE were shorted by them.
- FIIs bought 1368 cores in Equity and DII sold 425 cores in cash segment.INR closed above 59.31.
Buy above 7485 Tgt 7504,7520 and 7564(Nifty Spot Levels)
Sell below 7440 Tgt 7400, 7395 and 7360 (Nifty Spot Levels)
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