Nifty developing base for another big move,EOD Analysis

By | May 11, 2018

  • FII’s bought 2.3 K contract of Index Future worth 216 cores ,5.7 K Long contract were added by FII’s and 3.4 Short contracts were added  by FII’s. Net Open Interest increased  by 9.1 K contract, so rise in market was used by FII’s to enter long and enter short in  Index futures.  FII’s Long to Short Ratio at 1.27 .Using “The Greeks” To Understand Options

 

  • As Discussed in Last Analysis  Nifty bulls closed above 10730 and now heading towards 10800/10866. Bearish below 10666 for a move towards 10600/10520. High made today was 10785 so bulls almost did the target of 10800, but failed to close above 10730. As  we are also near gann angle and important planetary events (Sun Trine Pluto and Conjunction between Mercury and Uranus) happening on 11-12 May coupled by Karnataka Election suggesting another big move round the corner. Bullish  above 10730 and now heading towards 10800/10866. Bearish below 10666 for a move towards 10600/10520. Important intraday time for reversal can be at 10:04/2:04 .Bank Nifty held to 26060 amid Intraday volatility, EOD Analysis

 

  • Nifty May Future Open Interest Volume is at 2.40 core with liquidation of 3.1 Lakh with decrease in  cost of carry suggesting short position were added today, NF Rollover cost @10613 closed above it.
  • Total Future & Option trading volume at 11.2 Lakh core with total contract traded at 0.85 lakh , PCR @1.13
  • 10800 CE  is having Highest OI  at 34.2 Lakh, resistance at 10800 followed by 11000 .10300-11000 CE added 8.1 lakh in OI so bears added  position  in range of 10700-10800 CE. FII sold 1.2 K CE and382 CE were shorted by them. Retail sold 35 K CE and 35.9 K  shorted CE were covered by them.

 

  • 10500 PE OI@54.6 lakhs having the highest OI strong support at 10500 followed by 10400 . 10400-11000 PE liquidated 2.4 Lakh in OI so bulls covered position in 10500-10600 PE. FII sold 2.1 K PE and 2.2 K  PE were shorted by them. Retail sold 163 K PE and 131  K shorted  PE were covered by them.

 

  • FII’s sold 364 cores  and DII’s bought 900 cores in cash segment.INR closed at 67.32

 

Buy above 10730 Tgt 10765,10785 and 10816 (Nifty Spot Levels)

Sell below 10700 Tgt 10685,10655 and 10620 (Nifty Spot Levels)

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