Nifty Break 11197 and see Waterfall decline

By | May 13, 2019 11:16 pm

  • FII’s sold 743 contract of Index Future worth 137 cores 2.2 K Long contract were added by FII’s and 2.9 K Short contracts were added by FII’s. Net Open Interest increased  by 5.1 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 1.38.  How Comfortable you are with your trading ?
  • As Discussed in Last Analysis  Till we are holding 11210-11220 range we can see the relief rally in nifty towards 11361/11410/11468 . Bears will get active below 11197  for a move back to 11100/11044.  Nifty did bounce back from 11222 but failed to do target on upside and once 11197 was broken bears got an upper hand waiting for the downside target of 11060/11000/10927.  THE MOST NEGLECTED TRADING DISCIPLINE

  • Nifty May Future Open Interest Volume is at 1.69 core with addition  of 0.34 Lakh with  increase in  cost of carry suggesting short position were added today, NF Rollover cost @11742,closed below it.
  • Total Future & Option trading volume at 7.20 Lakh core with total contract traded at 1.22 lakh , PCR @0.83
  • 11500 CE  is having Highest OI  at 15  Lakh, resistance at 11400 followed by 11500 .11000-11800 CE added 10 Lakh in OI so bears added position in range of 11300-11500. FII bought 14.2 K CE and 17.5 K CE were shorted by them. Retail bought 121 K CE and 68.5 K CE were shorted by them.
  • 11000 PE OI@25.6 Lakhs having the highest OI strong support at 11100 followed by 11000 . 11000-11600 PE liquidated 5  Lakh in OI so bulls covered position in range 11200-11300 .FII sold 603 PE and 2.1 K PE were shorted by them. Retail bought 17.4 K PE and 22.5K PE were shorted by them.

Buy above 11166 Tgt 11188,11212 and 11240(Nifty Spot Levels)

Sell below 11082  Tgt 11060,11033 and 11000 (Nifty Spot Levels)

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About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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