Nifty closes above 7400,FII Data Analsysis

By | June 3, 2014

FII_1

  • FII’s sold 3.5 K contract of Index Futures worth 132 cores (7.9 K  longs were squared  off and  4.3 K shorts were squared off in Index Future) with net OI decreasing by 12.2  K contracts.FII’s squared off  both long and shorts.
  • As discussed in Weekly Analysis Nifty as per Gann grid is having strong support at red line marked by Green arrow and strong resistance in red line as shown with red arrow in below chart. Nifty took exact support at 7239 green line and is moving near the green line in range of 7430-7450.  On Hourly charts Nifty is near the downward trendline resistance, also as per EW we might make a short term top in range of 7450-7460 and than a pullback.
Nifty Hourly EW
nifty hourly
  • Nifty Future May Open Interest Volume is at 1.58  cores with liquidation of of 6.5  lakhs in Open Interest, suggesting short liquidation.
  • Total Future & Option trading volume at 1.74  lakh core with total contract traded at 2.6 lakh.PCR @0.80
  • 7500 Nifty CE  is having highest OI at 56.6 lakhs remains the strong resistance of the market, followed by 7600 CE.IV’s of Calls are very low suggesting bullish bias in market participants.  FII’s bought 16.7 K CE longs and 3.4 K CE  were shorted by them suggesting range bound move in next few session can come.
  • 7200 PE  OI at 36.3  lakh  remains a strong support from start of series, 7300 PE liquidated 1 lakhs suggesting support at 7300 for next few days, .FII’s bought 12.9 K PE longs and 4.9 K PE were shorted  by them.
  • FIIs bought 575 cores in Equity and DII bought 99 cores in cash segment.INR closed above 59.37.

Buy above 7425 Tgt 7447,7477 and 7504(Nifty Spot Levels)

Sell below 7390 Tgt 7364, 7342 and 7311 (Nifty Spot Levels)

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