Nifty Continue to Hold to its gann angle support,EOD Analysis

By | May 2, 2017

  • FII’s sold 9.4 K contract of Index Future worth 713 cores ,9.1 K  Long contract were liquidated  by FII’s and 313 Short contracts were added by FII’s. Net Open Interest increased  by 8.7 K contract, so rise in market was used by FII’s to exit long and enter short in  Index futures. The Secret to Trading Success
  • As discussed in last analysis   As per time cycle 01 May is crucial as it being holiday we should see good move in coming week. Long above 9367 for move till 9424/9468 and bearish below 9274 for move till 9220/9170. High made today was 9352 and low made was 9270 so nifty continue to trade in range of 9367-9274, and in the process took support near gann angles from last 2 trading days, Best strategy to trade this market buy low and sell high till we see range breakout/breakdown. Trend traders should wait for range expansion above 9367 or below 9274 for taking fresh trades. Bank Nifty again fails to close above 22380,EOD Analysis

  • Nifty May Future Open Interest Volume is at 1.92 core with liquidation of 0.002 Lakh with increase in  cost of carry suggesting Long position were closed today, NF Rollover cost @9307 Closed above it.
  • Total Future & Option trading volume at 3.64 Lakh core with total contract traded at 1.14 lakh , PCR @0.95
  • 9500  CE  is having Highest OI  at 46.2 lakh, resistance at 9500 followed by 9400 .9000-9500 CE added 15.3 Lakh in OI so bears added in 9400-9500 CE by start of the series.FII bought 3.3 K CE longs and 107 CE were shorted  by them.Retail bought 41.8 K CE contracts and 39.8 K  CE were shorted  by them.
  • 9000 PE OI@46.2 lakhs having the highest OI strong support at 9200 followed by 9100. 9000-9500 PE added 22.8 Lakh in OI so bulls added in 9100/9200 PE . FII bought 7.4 K PE and 1.6 K PE were shorted by them.  .Retail bought 52.1 K PE contracts and 37.5 K PE were shorted by them.
  • FII’s sold 611 cores in Equity and DII’s bought 541 cores in cash segment.INR closed at 64.20

Buy above 9320  Tgt 9347,9368 and 9394 (Nifty Spot Levels)

Sell below 9300 Tgt 9270,9250 and 9230 (Nifty Spot Levels)

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