Nifty ready for trending move, EOD Analysis

  • FII’s sold 1 K contract of Index Future worth 78 cores ,9.9 K Long contract were added by FII’s and 10.9 K Short contracts were added by FII’s. Net Open Interest increased  by 20.8 K contract, so rise in market was used by FII’s to enter long and enter short in  Index futures. Money is a Lot Like Water
  • As discussed in last analysis  Low made was 9390.75 exactly the level we were expecting also shown in below chart and than we saw a small pullback till 9435 which can get extended to 9500/9530/9575 till 9390 is protected on downside. High made today was 9498 so bulls did the 1 tgt of 9500 above 9390, till 9390 is held bulls can see move till 9500/9530/9575. Bearish below 9390 for a move towards 9320/9270. Expect a good move in next 2 days.  Bank Nifty Bulls Bear in tug of war at gann angle
  • Nifty May Future Open Interest Volume is at 1.78 core with liquidation of 12.9 Lakh with decrease in  cost of carry suggesting long position were closed today, NF Rollover cost @9307 Closed above it.
  • Total Future & Option trading volume at 4.7 Lakh core with total contract traded at 1.13 lakh , PCR @1.11
  • 9500  CE  is having Highest OI  at 65.2 lakh, resistance at 9500 followed by 9450 .9000-9500 CE added 4.7 K Lakh in OI so bears added aggressively  in 9400-9500 CE.FII bought 3.6 K CE longs and 6.3 K CE were shorted  by them.Retail bought 80 K CE contracts and 46.1 K CE were shorted  by them.
  • 9300 PE OI@64.5 lakhs having the highest OI strong support at 9300 followed by 9200. 9000-9500 PE liquidated 1.6 Lakh in OI so bulls ran for cover in 9300-9500 PE . FII sold 1.2 K PE and 1.4 K shorted PE were covered by them. Retail bought 17.2 K PE contracts and 28.5 K PE were shorted by them.
  • FII’s sold 321 cores in Equity and DII’s bought 1262 cores in cash segment.INR closed at 64.55

Buy above 9455 Tgt 9480,9520 and 9550 (Nifty Spot Levels)

Sell below 9425 Tgt 9410,9385 and 9350 (Nifty Spot Levels)

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