- FII’s bought 17469 contract of Index Futures worth 652 cores (17.8 K longs were added and only 375 shorts were added in Index Future) with net OI increasing by 18.2 K contracts.FII’s are going long in Index Futures.
- Nifty Hourly chart has formed a pennant pattern which suggests a breakout/breakdown is round the corner. As its Bull market the emphasize lies on breakout on upside. 7350 should be broken for nifty to move towards 7564. Breakdown below 7250 for short term target of 7194 and 7150.
- Nifty Future May Open Interest Volume is at 2.16 cores with liquidation of of 2.8 lakhs in Open Interest, suggesting long liquidation .
- Total Future & Option trading volume at 1.99 lakh core with total contract traded at 2.55 lakh.PCR @0.77
- 7500 Nifty CE is having highest OI at 58.5 lakhs followed by 7400 CE ,7400 CE is also having an OI of 52.5 lakhs and it seems smart money is selling 7400 CE. FII’s bought 2.9 K CE longs and 14.8K shorted CE were covered by them suggesting we can see rise in nifty.
- 7000 PE is having highest OI at 47.7 lakh remains a strong support for the series. 7100 PE saw a good addition are upcoming support of the market. FII’s bought 10.5 K PE longs and 2.6 K shorted PE were covered by them.
- FIIs sold 104 cores in Equity and DII sold 656 cores in cash segment.INR closed above 59.58.
Buy above 7281 Tgt 7320,7353 and 7380(Nifty Spot Levels)
Sell below 7246 Tgt 7210, 7180 and 7150 (Nifty Spot Levels)
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