Nifty Analysis: NDA 2.0 comes back to power

By | May 23, 2019

  • FII’s sold 18.3 K contract of Index Future worth 1413 cores 10 K Long contract were covered by FII’s and 8.5 K Short contracts were added by FII’s. Net Open Interest decreased  by 1.7 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 1.1.  How Comfortable you are with your trading ?
  • As Discussed in Last Analysis Bulls will get active above 11800 for a move back to 11896. 11896-11910 is important zone of resistance big rally on close above 11896 only towards 12080/12167/12260. Bears will get active below 11666 for a move back to 11570/11500/11400.
  • Today High will remains high for next 15-20 days,Nifty will consolidate gain and mostly will move in range bound move. Nifty Bulls will get active above 11698 for a move towards 11753/11807/11861. Bears will active below 11585 for a move back to 11537/11483/11430.  THE MOST NEGLECTED TRADING DISCIPLINE

  • Nifty May Future Open Interest Volume is at 1.76 core with addition  of 9.8 Lakh with  increase in  cost of carry suggesting long position were added today, NF Rollover cost @11742,closed above it.
  • Total Future & Option trading volume at 25.81 Lakh core with total contract traded at 3.5 lakh , PCR @0.86
  • 12000 CE  is having Highest OI  at 47.7 Lakh, resistance at 11800 followed by 12000 .11000-11800 CE added 19.9 Lakh in OI so bears added position in range of 11800-12000. FII sold 5.5 K CE and 41.2 K shorted  CE were covered by them. Retail sold 37.7 K CE and 68.9 K shorted CE were covered by them.
  • 11500 PE OI@22.3 Lakhs having the highest OI strong support at 11600 followed by 11500 . 11000-11700 PE added 13.3  Lakh in OI so bulls added huge position in range 11400-11500 .FII bought 4.4 K PE and 18.3 K shorted PE were covered by them. Retail sold 160 K PE and 127 K shorted PE were covered by them.

Buy above 11698 Tgt 11735,11760 and 11800  (Nifty Spot Levels)

Sell below 11630 Tgt 11605,11585 and 11550  (Nifty Spot Levels)

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