Nifty Fall 200 points below Mercury Ingress Low

By | May 8, 2019

  • FII’s sold 13.4 K contract of Index Future worth 1128 cores 4.1 K Long contract were covered by FII’s and 9.3 K Short contracts were added by FII’s. Net Open Interest increased  by 5.2 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 1.83.  How Comfortable you are with your trading ?
  • As Discussed in Last Analysis 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. Low made was 11347 so we did our target of 11376, Zone of 11311-11343 is strong support zone, Fresh short should be taken below 11311 only also tomorrow is important astro date , If we do not break 11311-11323  we can see the relief rally. Bulls will get active above 11400 for a move back to 11446/11510. Bears will get active below 11310 for a move back to 11260/11220.

  • Nifty May Future Open Interest Volume is at 1.92 core with addition  of 3.2 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 13.24 Lakh core with total contract traded at 1.36 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 8.8 K CE and 27.9 K CE were shorted by them. Retail bought 116 K CE and 47.6 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 15.7 K PE and 5.2 K PE were shorted by them. Retail bought 27.5 K PE and 23.4 K PE were shorted by them.

Buy above 11376 Tgt 11395,11412 and 11444 (Nifty Spot Levels)

Sell below 11340 Tgt 11312,11290 and 11260 (Nifty Spot Levels)

Upper End of Expiry: 11516

Lower End of Expiry : 11202

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