Nifty Bulls hold on to 9390,EOD Analysis

By | May 20, 2017

  • FII’s bought 4.1 K contract of Index Future worth 333 cores ,1.9 K Long contract were liquidated by FII’s and 2.6 K Short contracts were added by FII’s. Net Open Interest decreased  by 7.9 K contract, so fall in market was used by FII’s to exit long and enter short in  Index futures. Money is a Lot Like Water
  • As discussed in last analysis  Nifty Bulls were unable to hold on to support of 9450, now heading towards major support zone of 9370-9390 as per below chart, holding the same we can see up move towards 9540/9590. Bearish below 9390 for a move towards 9345/9290. Low made was 9390.75 exactly the level we were expecting also shown in below chart and than we saw a small pullback till 9435 which can get extended to 9500/9530/9575 till 9390 is protected on downside. We have important time analysis date of money and it can lead to price and time square which generally lead to fast move. Bearish below 9390 for a move till 9310.  Bank Nifty continue to hold gann angle in volatile move
  • Nifty May Future Open Interest Volume is at 1.91 core with liquidation of 9.3 Lakh with increase in  cost of carry suggesting short position were closed today, NF Rollover cost @9307 Closed above it.
  • Total Future & Option trading volume at 6.4 Lakh core with total contract traded at 1.64 lakh , PCR @1.03
  • 9500  CE  is having Highest OI  at 61.8 lakh, resistance at 9500 followed by 9450 .9000-9500 CE added 16.9 K Lakh in OI so bears added aggressively  in 9400-9500 CE.FII sold 5.1 K CE longs and 12 K CE were shorted  by them.Retail bought 53 K CE contracts and 17.6 K shorted  CE were covered by them.
  • 9300 PE OI@67.5 lakhs having the highest OI strong support at 9300 followed by 9200. 9000-9500 PE liquidated 48 Lakh in OI so bulls ran for cover in 9300-9500 PE . FII bought 17.3 K PE and 14.4 K shorted PE were covered by them. Retail sold 11.1 K PE contracts and 18.3 K PE were shorted by them.
  • FII’s sold 988 cores in Equity and DII’s bought 349 cores in cash segment.INR closed at 64.64

Buy above 9445 Tgt 9470,9500 and 9520 (Nifty Spot Levels)

Sell below 9415 Tgt 9400,9370 and 9350 (Nifty Spot Levels)

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3 thoughts on “Nifty Bulls hold on to 9390,EOD Analysis

  1. kapoor mishra

    dear bramesh sir, friday bulls were eaten mercilessly in second half

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