Nifty does life high again holding 9368,EOD Analysis

  • FII’s sold 679 contract of Index Future worth 22 cores ,2 K Long contract were added by FII’s and 2.7 K  Short contracts were added by FII’s. Net Open Interest increased  by 4.7 K contract, so rise in market was used by FII’s to enter long and enter short in  Index futures. Lesson a TRADER can learn from ANT
  • As discussed in last analysis  Now bulls needs to break 9460 for next round of upmove towards 9529/9600. and bears need to break 9368 for a fall towards 9310/9256.  High made today was 9517 and low made was 9456 so nifty did range breakout once 9460 was broken and moved towards the first target of 9529 and 9590. Time Analysis again favored bulls. Bearish below 9368 only. Bank Nifty does 22940,EOD Analysis

  • Nifty May Future Open Interest Volume is at 2.17 core with addition of 6.2 Lakh with decrease in  cost of carry suggesting short position were added today, NF Rollover cost @9307 Closed above it.
  • Total Future & Option trading volume at 4.87 Lakh core with total contract traded at 1 lakh , PCR @1.07
  • 9500  CE  is having Highest OI  at 57.4 lakh, resistance at 9500 followed by 9450 .9000-9500 CE liquidated 22.2 Lakh in OI so bears ran for cover  in 9400-9500 CE.FII bought 10.7 K CE longs and 1.9 K shorted CE were covered by them.Retail sold 21 K CE contracts and 3 K CE were shorted  by them.
  • 9300 PE OI@74 lakhs having the highest OI strong support at 9300 followed by 9200. 9000-9500 PE added 43 Lakh in OI so bulls used the rise to add aggressive position in 9400/9500 PE . FII sold  2.8 K PE and 17 K PE were shorted by them. Retail bought 100 K PE contracts and 44.3 K PE were shorted by them.
  • FII’s bought 858 cores in Equity and DII’s sold 401 cores in cash segment.INR closed at 64.08

Buy above 9535 Tgt 9556,9590 and 9625 (Nifty Spot Levels)

Sell below 9490 Tgt 9470,9450 and 9430 (Nifty Spot Levels)

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