Nifty bounce from lower end of range to higher end

  • FII’s sold 1.6 K contract of Index Future worth 117 cores ,1.1 K Long contract were liquidated by FII’s and 485  Short contracts were added by FII’s. Net Open Interest decreased  by 656 contract, so rise in market was used by FII’s to exit long and enter short in  Index futures. Lesson a TRADER can learn from ANT
  • As discussed in last analysis   Nifty made high of 9450 almost doing our target of 9459, now we should see some consolidation in market in range of 9368-9460 for the next round of up move towards 9559. Bearish below 9310 only.  Low made was 9372 and High made was 9437 so nifty continue to trade in range of  9368-9460, 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 9449 and low made was 9423 so nifty continued to trade in the range of 9459-9368 suggesting range bound move to continue till we do not break the range.  Bank Nifty near gann angle support, Will It Bounce Again ?

  • Nifty May Future Open Interest Volume is at 2.11 core with addition of 4.9 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 3.18 Lakh core with total contract traded at 0.52lakh , PCR @1.17
  • 9500  CE  is having Highest OI  at 67.2 lakh, resistance at 9500 followed by 9450 .9000-9500 CE liquidated 12.2 Lakh in OI so bears added in 9400-9500 CE.FII bought 2.8 K CE longs and 1.4 K shorted CE were covered by them.Retail sold 6 K CE contracts and 12.9 K CE were shorted  by them.
  • 9300 PE OI@73.9 lakhs having the highest OI strong support at 9300 followed by 9200. 9000-9500 PE liquidated 68.9 Lakh in OI so bulls used the rise to cover position in 9200 PE . FII sold  1.4 K PE and 3.6 K PE were shorted by them. Retail bought 54.5 K PE contracts and 6.7 K PE were shorted by them.
  • FII’s bought 235 cores in Equity and DII’s sold 65 cores in cash segment.INR closed at 64.06

Buy above 9455  Tgt 9475,9500 and 9525 (Nifty Spot Levels)

Sell below 9430 Tgt 9410,9390 and 9370 (Nifty Spot Levels)

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