Nifty held on to gann angle,EOD Analysis

By | May 6, 2018

  • FII’s sold 6.2 K contract of Index Future worth 493 cores ,286 Long contract were added by FII’s and 6.5 K Short contracts were added  by FII’s. Net Open Interest increased  by 6.7 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 1.27 .Time Based Scanner for Stocks for 01-05 May

 

  • As Discussed in Last Analysis    Low  made today was 10647 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. 06 May is an important trend change date so we can see effect either tommrow or Monday. 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. Important intraday time for reversal can be at 09:28/11:59 . Bank Nifty ready for big move,EOD Analysis

 

  • Nifty May Future Open Interest Volume is at 2.36 core with liquidation of 1.05 Lakh with increase in  cost of carry suggesting long position were closed today, NF Rollover cost @10613 closed above it.
  • Total Future & Option trading volume at 3.2 Lakh core with total contract traded at 0.88 lakh , PCR @1.02
  • 10800 CE  is having Highest OI  at 38 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 bought 1.3 K CE and 2.6 K  CE were shorted by them. Retail bought 32.7 K CE and 15 K  CE were shorted by them.

 

  • 10500 PE OI@48 lakhs having the highest OI strong support at 10500 followed by 10400 . 10400-11000 PE added 5.9 Lakh in OI so bulls added position in 10500-10600 PE. FII bought 17.9 K PE and 2 K shorted PE were covered  by them. Retail bought 12.6 K PE and 36.5 K PE were shorted by them.

 

  • FII’s sold 1628 cores  and DII’s bought 1084 cores in cash segment.INR closed at 66.86

 

Buy above 10640 Tgt 10678,10700 and 10730 (Nifty Spot Levels)

Sell below 10600 Tgt 10580,10555 and 10520 (Nifty Spot Levels)

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