Nifty forms Inside Bar Ready for Big Move

By | May 4, 2019

  • FII’s bought 2.9 K contract of Index Future worth 153 cores 2.8 K Long contract were added by FII’s and 375 Short contracts were added by FII’s. Net Open Interest decreased  by 12.6 K contract, so fall in Nifty was used by FII’s to enter long and enter short in  Index futures.FII’s Long to Short Ratio at 2.44.  How Comfortable you are with your trading ?
  • As Discussed in Last Analysis Bulls will get active above 11797 for move back to 11856/11912. Bears need to move below 11721 for a move back to 11666/11610. Nifty formed another inside bar candle and unable to break 11797 on upside, Time Cycle move is getting delayed so bigger and faster move will be seen. Bulls will get active above 11797 for move back to 11856/11912. Bears need to move below 11699 for a move back to 11650/11600. Bank Nifty Rallies above 29930

  • Nifty May Future Open Interest Volume is at 1.87 core with addition of 0.99 Lakh with  increase in  cost of carry suggesting Long position were closed today, NF Rollover cost @11742,closed above it.
  • Total Future & Option trading volume at 6.44 Lakh core with total contract traded at 0.78 lakh , PCR @0.82
  • 12000 CE  is having Highest OI  at 12.3  Lakh, resistance at 11850  followed by 12000 .11000-11800 CE added 0.41 Lakh in OI so bears added position in range of 11800-12000. FII bought 25.1 K CE and 7.2 K CE were shorted by them. Retail bought 81 K CE and 77.3 K CE were shorted by them.
  • 11500 PE OI@18.2 Lakhs having the highest OI strong support at 11500 followed by 11600 . 11000-11600 PE added 2.1  Lakh in OI so bulls added position in range 11500-11600 .FII bought 6.7 K PE and 16.7 K PE were shorted by them. Retail bought 124 K PE and 100 K  PE were  shorted by them.

Buy above 11740 Tgt 11776,11797 and 11821 (Nifty Spot Levels)

Sell below 11700 Tgt 11685,11660 and 11640  (Nifty Spot Levels)

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