- FII’s bought 1.9 K contract of Index Futures worth 77 cores (4.2 K longs were added and 2.2 K shorts were added in Index Future) with net OI increasing by 6.4 K contracts.
- As 7577 is 34 H EMA and last time nifty closed below it, Nifty made a 100 points fall so same can be repeated this time, So keep a close eye on 7577 on closing basis.
- Nifty Future May Open Interest Volume is at 1.60 cores with liquidation of of 0.07 lakhs in Open Interest, suggesting no panic in bull camp till now and traders are holding on to their positions.
- Total Future & Option trading volume at 2.25 lakh core with total contract traded at 3 lakh.PCR @0.94
- 7800 Nifty CE is having highest OI at 50 lakhs and 7700 CE having second highest OI suggesting we have seen a short term top. FII’s bought 8.9 K CE longs and 8.2 K CE were shorted by them.
- 7500 PE OI at 50 lakh remains a strong support from start of series, 7300 PE added 2.2 lakhs suggesting smart buying of PE happening at lower levels.FII’s bought 12.7K PE longs and 17.3 K PE were shorted by them.
- FIIs sold 313 cores in Equity and DII bought 407 cores in cash segment.INR closed above 59.27.
Buy above 7640 Tgt 7661,7688 and 7720(Nifty Spot Levels)
Sell below 7601 Tgt 7577, 7528 and 7500 (Nifty Spot Levels)
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