Nifty did 9400 with the start of new time cycle

By | May 10, 2017

  • FII’s sold 4.8 K contract of Index Future worth 394 cores ,3.5 K Long contract were added by FII’s and 8.3 K  Short contracts were added by FII’s. Net Open Interest increased  by 11.9 K contract, so rise in market was used by FII’s to enter long and enter short in  Index futures. How to maintain high level of energy during Trading Hours
  • As discussed in last analysis   We are approaching the end of sideways time cycle, get ready for a trending move in next 1-2 days.Trend  trader should wait for range break for move towards 9425/9460 on upside and 9220/9170 on downside. Nifty gave the trending move as we were expecting  as per time cycle and in process broke 9368 and moved towards 1 target of 9425 high made was 9414 and now mostly 9425 will be done tomorrow. Above 9425 next target are 9460/9559. Bearish below 9310 only.  Bank Nifty Hits new life high holding 22700

  • Nifty May Future Open Interest Volume is at 2 core with addition of 1.2 Lakh with decrease in  cost of carry suggesting short position were added today, NF Rollover cost @9307 Closed above it.
  • Total Future & Option trading volume at 4.54 Lakh core with total contract traded at 1.11 lakh , PCR @1.09
  • 9500  CE  is having Highest OI  at 65.1  lakh, resistance at 9500 followed by 9450 .9000-9500 CE liquidated 10.7 Lakh in OI so bears ran for cover in 9400-9500 CE.FII bought 23.8 K CE longs and 258 shorted  CE were covered by them.Retail sold 27.2 K CE contracts and 16.4 K  CE were shorted  by them.
  • 9300 PE OI@76.7 lakhs having the highest OI strong support at 9300 followed by 9200. 9000-9500 PE added 41 Lakh in OI so bulls added in 9100/9200/9300 PE . FII bought 2.2 K PE and 13.6 K PE were shorted by them. Retail bought 85.5 K PE contracts and 39.4 K PE were shorted by them.
  • FII’s bought 893 cores in Equity and DII’s bought 229 cores in cash segment.INR closed at 64.63

Buy above 9415  Tgt 9436,9450 and 9464 (Nifty Spot Levels)

Sell below 9380 Tgt 9360,9340 and 9321 (Nifty Spot Levels)

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One thought on “Nifty did 9400 with the start of new time cycle

  1. T Srinivas

    Respected sir,
    Your article on how to maintain energy during trading was really timely. Sir, I just like to ask you again to kindly show a model trading plan.This may sound silly,but from you,it will be education ! Thanking you.

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