Nifty bounce from gann angle and give 100 points rally ,EOD Analysis

By | May 7, 2018

  • FII’s bought 1.4 K contract of Index Future worth 104 cores ,1 K Long contract were added by FII’s and 425 Short contracts were covered  by FII’s. Net Open Interest increased  by 617 contract, so rise in market was used by FII’s to enter long and exit short in  Index futures.  FII’s Long to Short Ratio at 1.29 .Using “The Greeks” To Understand Options

 

  • As Discussed in Last Analysis  Nifty made low of 10601 but closed at 10618 and held on to gann angle support, also we closed below 10640 so we are in neutral zone. Bullish above 10640 for a move back to 10700/10777/10830. Bearish below 10610 for a move back to 10555/10500.Expect good move in bank nifty in next 2 days. 10700 done now once we move above 10730 bulls can see good move till 10800/10866.Bearish below 10610 for a move back to 10555/10500. Nifty bounced from gann angle with  time cycle  date suggesting price time squaring.Important intraday time for reversal can be at 10:34/12:23 . Bank Nifty gave big move as per time cycle,EOD Analysis

 

  • Nifty May Future Open Interest Volume is at 2.38 core with addition of 2.44 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 3.2 Lakh core with total contract traded at 0.74 lakh , PCR @1.02
  • 10800 CE  is having Highest OI  at 35.9 Lakh, resistance at 10800 followed by 11000 .10300-11000 CE liquidated 9.7 lakh in OI so bears covered  position  in range of 10600-10700 CE. FII bought 1.9 K CE and 2.7 K  CE were shorted by them. Retail sold 5.3 K CE and 3.6 K  CE were shorted by them.

 

  • 10500 PE OI@51.7 lakhs having the highest OI strong support at 10500 followed by 10400 . 10400-11000 PE added 12.8 Lakh in OI so bulls added position in 10500-10600 PE. FII bought 11 K PE and 2.4 K  PE were shorted by them. Retail bought 69.1 K PE and 52.3 K PE were shorted by them.

 

  • FII’s sold 635 cores  and DII’s bought 1037 cores in cash segment.INR closed at 67.14

 

Buy above 10730 Tgt 10750,10777 and 10800 (Nifty Spot Levels)

Sell below 10690 Tgt 10670,10650 and 10630 (Nifty Spot Levels)

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