Nifty Outlook for May Series


  •  Nifty formed hammer pattern on last day of expiry, April expiry has been very volatile with move of 698 points (8844-8146) and close was almost near the lowest of the series. We closed the April month at lows also closing below 200 DMA  for 2 day in a row. I have shown Supply and Demand chart below for Nifty.Range of 8118-8065 is very important demand zone, nifty if held this zone can see bounceback till 8309 odd levels. Unable to hold the range we can see a swift move towards 7961 odd levels. Range for May Month comes in range of 8856-7506.  Harmonic pattern shows butterfly pattern can form if 8116/8065 range hold.How Much Money Do You Really Need To Trade For A Living

Supply Demand

Nifty Harmonic

  • Nifty May Future Open Interest Volume is at 1.89 core with addition of 43  lakhs Series is starting at very low Open Interest seen in next last 6 months.Rollover has started and we are seeing 65.5 % rollover around 8295.
  • Total Future & Option trading volume was   at 6.27 core with total contract traded at 8.1 lakh. PCR @0.84
  • 8500  CE  OI at 23.9  lakh , wall of resistance @ 8500 .7900/8500 CE saw addition of 28.4  lakhs ,so  bears  added fresh position.
  • 8100 PE OI@29.3  lakhs so strong base @ 8100.  7900/8500 PE added  19.2 lakh so bulls are also adding on to positions at lower levels.
  • FII’s sold 3157 cores  in Equity and DII’s bought 2460 cores in cash segment.INR closed at 63.43.Highest FII sell in past 6 months.


Buy above 8186 Tgt 8200,8229 and 8269 (Nifty Spot Levels)

Sell below 8141 Tgt 8100,8080 and 8056(Nifty Spot Levels)


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10 thoughts on “Nifty Outlook for May Series”

  1. Thanks brahmesh bhai for all ur efforts in guiding us selflessly..we all r bounded by passion to learn and earn daily..

  2. Gann is for Intraday Move and TC is Positional, Never mix time frame when trading.

    Stick to one.


  3. Yes. I hv read dose and traded too many times and earned by usin ur trend changer and deciding level method..thx .. basically qstn was correlation of these levels with gann day i got ur answer tht ” trade according to the levels”. 🙂 thx champ gbu

  4. Brahmesh sir , are nifty trend changer and Trend deciding level validated on a gann day .bcuz generally one side move on gann day is a one day phenomenon..wil closing abov this levels today change trend of mrkt? Thx and reg

  5. Fii activity is not bullies fii option activity not analises by you in option fii what positon made by fii on thuresday please analises fii option activity on thuresday

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