Nifty Bulls continue to hold 10640 amid intraday correction

By | May 2, 2018

  • FII’s sold 4.3 K contract of Index Future worth 325 cores ,3.1 K Long contract were covered by FII’s and 1.1 K Short contracts were added by FII’s. Net Open Interest decreased  by 1.9 K contract, so fall in market was used by FII’s to exit long and enter short in  Index futures.  FII’s Long to Short Ratio at 1.28 .Time Based Scanner for Stocks for 01-05 May

 

  • As Discussed in Last Analysis  Bulls need to hold 10640 for the upmove to continue towards 10800/10862.Bearish below 10610 for a move back to 10555/10500. Low  made today was 10689 so bulls continue to hold 10640 keeping the trend intact and waiting for target of 10800/10862. Bearish below 10610 for a move back to 10555/10500.Important intraday time for reversal can be at 9:42/2:20 . Bank Nifty Bulls continue holding gann angle,EOD Analysis

 

  • Nifty May Future Open Interest Volume is at 2.37 core with liquidation of 0.71 Lakh with decrease in  cost of carry suggesting long position were closed today, NF Rollover cost @10613 closed above it.
  • Total Future & Option trading volume at 6.80 Lakh core with total contract traded at 0.88 lakh , PCR @1.01
  • 10800 CE  is having Highest OI  at 34.3 Lakh, resistance at 10800 followed by 11000 .10300-11000 CE 7.3 lakh in OI so bears added position  in range of 10900-11000 CE. FII sold 1.3 K CE and 694 CE were shorted  by them. Retail bought 78.9 K CE and 48.2 K CE  were shorted by them.

 

  • 10500 PE OI@45.6 lakhs having the highest OI strong support at 10500 followed by 10400 . 10000-10800 PE added 1.32 Lakh in OI so bulls added position in 10500-10600 PE. FII bought 15.3 K PE and 17 K PE were shorted  by them. Retail bought 46.1 K PE and 46.5 K PE were shorted  by them.

 

  • FII’s sold 525 cores  and DII’s bought 165 cores in cash segment.INR closed at 66.54

 

Buy above 10730 Tgt 10750,10771 and 10800 (Nifty Spot Levels)

Sell below 10700 Tgt 10680,10655 and 10640 (Nifty Spot Levels)

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