- As discussed in last analysis Bearish only on close below 9274 for a move till 9216/9180. As per time cycle today’s high 9367 and low 9301 are important, break on any side can give move of 120-150 points in next 3 days. Nifty continue to struggle around 9367 but held on to 9300 also forming an Inside bar pattern, fresh trades should be taken on move above 9367 for a move till 9424/9468. Bearish below 9274 for a move towards 9220/9180. Bank Nifty Overview for May Series
- Nifty May Future Open Interest Volume is at 1.97 core with addition of 43 Lakh with increase in cost of carry suggesting long position were added today, Nifty Rollover cost @9307, closed above it and Rollover % at 62.4.
- FII’s sold 492 cores in Equity and DII’s bought 1011 cores in cash segment.INR closed at 64.15
- Nifty Futures Trend Deciding level is 9361 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 9361. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 9380 Tgt 9410,9425 and 9444 (Nifty Spot Levels)
Sell below 9339 Tgt 9320,9300 and 9275 (Nifty Spot Levels)
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