Nifty see waterfall decline due to Mercury Ingress

By | May 7, 2019

  • FII’s sold 4.3K contract of Index Future worth 464 cores 3.7 K Long contract were covered by FII’s and 661 Short contracts were added by FII’s. Net Open Interest decreased  by 3 K contract, so fall in Nifty was used by FII’s to exit long and enter short in  Index futures.FII’s Long to Short Ratio at 2.08.  How Comfortable you are with your trading ?
  • As Discussed in Last Analysis As we had mercury sign change today as shown in below video, so a good move should be seen. Bulls will get active above 11641 for a move towards 11700/11777/11856. Bears will get active below 11550 for a move towards 11470/11400. Bulls got whipsawed bears got active below 11550 and did 1 target on downside as Mercury Ingress showed its effect. Now fall can extend towards 11400-11376  range where strong support lies.

  • Nifty May Future Open Interest Volume is at 1.89 core with liqudiation of 1.5 Lakh with  decrease in  cost of carry suggesting short position were added today, NF Rollover cost @11742,closed below it.
  • Total Future & Option trading volume at 9.81 Lakh core with total contract traded at 1.1 lakh , PCR @0.81
  • 12000 CE  is having Highest OI  at 15.8  Lakh, resistance at 11850  followed by 12000 .11000-11800 CE added 1.5 Lakh in OI so bears added position in range of 11600-11800. FII bought 896  CE and 17.5 K CE were shorted by them. Retail bought 228 K CE and 133 K CE were shorted by them.
  • 11500 PE OI@20.8 Lakhs having the highest OI strong support at 11500 followed by 11600 . 11000-11600 PE added 2.3  Lakh in OI so bulls added position in range 11500-11600 .FII bought 16 K PE and 1.2 K PE were shorted by them. Retail sold 28.6 K PE and 104 PE were shorted by them.

Buy above 11512 Tgt 11535,11555 and 11576 (Nifty Spot Levels)

Sell below 11470 Tgt 11455,11430 and 11400 (Nifty Spot Levels)

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