Nifty ready for Big Move

By | May 1, 2019

  • FII’s sold 17.2 K contract of Index Future worth 1479 cores 4.5 K Long contract were covered by FII’s and 12.6 K Short contracts were added by FII’s. Net Open Interest increased  by 8.1 K contract, so rise in Nifty was used by FII’s to exit long and enter short in  Index futures.FII’s Long to Short Ratio at 2.36.  Build Good Trading Habits
  • As Discussed in Last Analysis Now Nifty bulls should hold 11740  for this up move to continue towards 11800/11856. Bears need to move below 11721 for a move back to 11666/11610. 29 April is important astro date so effect will be seen on 30. 11666 done below 11721. Now 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,Good  Move should be seen in next 2 days based on Astro Dates.Bank Nifty ready for Big Move

  • Nifty May Future Open Interest Volume is at 1.91 core with liquidation of 3.9 Lakh with  decrease in  cost of carry suggesting Long position were closed today, NF Rollover cost @11742,closed above it.
  • Total Future & Option trading volume at 11.84 Lakh core with total contract traded at 1.06 lakh , PCR @0.84
  • 12000 CE  is having Highest OI  at 11.9  Lakh, resistance at 11850  followed by 12000 .11000-11800 CE added0.79 Lakh in OI so bears added position in range of 11800-12000. FII bought 7.8 K CE and 8.7 K CE were shorted by them. Retail bought 167 K CE and 97.2 K CE were shorted by them.
  • 11500 PE OI@17.6 Lakhs having the highest OI strong support at 11500 followed by 11600 . 11000-11600 PE added 4 Lakh in OI so bulls added position in range 11500-11600 .FII bought 20.5 K PE and 739 PE were shorted by them. Retail bought 8.3 K PE and 28.4K  PE were shorted by them.

Buy above 11766 Tgt 11780,11806 and 11834  (Nifty Spot Levels)

Sell below 11721 Tgt 11700,11666 and 11640  (Nifty Spot Levels)

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