Nifty continues to trade below 7777,EOD Analysis


  • FII’s bought 6 K contract of Index Future worth 325 cores ,9.6 K Long contract were added by FII’s and 3.6 K short contracts were added by FII’s. Net Open Interest increased  by 13.3 K contract, so fall in market was used by FII’s to enter long and enter shorts  in  Index futures.How trading brain Works ?
  • As discussed in last analysis Close below 7777  can see nifty going till 7678/7546 in coming session If we move above 7777, again we can move above 7834 Nifty opened with gap up made high of 7820 and started drifting down, Bears became active once 7777 was broken and took nifty towards the zone of 7722-7730, break of 7720 tomorrow can see nifty moving towards 7678 and break above 7777 again a move towards 7834. Time Correction at its best. Will Bank Nifty break 16350,EOD Analysis


  • Nifty May Future Open Interest Volume is at 1.46 core with liquidation of 10 Lakh with decrease in cost of carry suggesting long position were closed today, NF  Rollover cost @7953, High made on 17 May was 7957 and we are down almost 200 points from 7953 which was rollover cost.
  • 8000  CE  is having Highest OI  at 88.3 lakh, resistance at 8000 .7500/8000 CE  added 4.2 lakh so bears added aggressively today as bulls were not able to protect 7777 .FII sold 9.2 K CE longs and 26 K shorted CE were covered by them .Retail bought 27 K CE contracts and 21.4 K CE were shorted  by them.
  • 7700 PE OI@52 lakhs having the highest OI strong support at 7700. 7300-7800 PE liquidated 4.9 Lakh in OI so strong base near 7500-7600 zone .FII bought 663 PE longs  and 2.3 K shorted PE were covered by them .Retail bought 8 K PE contracts and 12.5 K PE were shorted by them.
  • FII’s sold 65 cores in Equity and DII’s sold 165 cores in cash segment.INR closed at 67.49

Buy above 7760 Tgt 7791,7818 and 7850(Nifty Spot Levels)

Sell below 7715 Tgt 7690,7670 and 7640 (Nifty Spot Levels)

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