Nifty Technical Analysis for May Expiry

  • FII’s bought 2.3 K contract of Index Future worth 230 cores ,21.9 K Long contract were added by FII’s and 19.5 K Short contracts were added by FII’s. Net Open Interest increased  by 41.5 K contract, so fall 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   Nifty broke 9390 made low of 9370 and closed below 9390 also below gann angle as shown in below chart, Unable to close above it we can see down move till 9320/9288. Bullish above 9410 for a move towards 9460/9530. Nifty opened at 9410, made high of 9431 but it triggered the sl for traders who went long but shorts are active as we again closed below 9390 so we can go towards the target of 9320/9280. Bullish on close above 9410 for a move towards 9460/9530. Bank Nifty Technical Analysis for May Expiry

  • Nifty May Future Open Interest Volume is at 1.16 core with liquidation of 36.4 Lakh with increase in  cost of carry suggesting short position were closed today, NF Rollover cost @9307 Closed above it.
  • Total Future & Option trading volume at 8.1 Lakh core with total contract traded at 2.1 lakh , PCR @1.11
  • 9500  CE  is having Highest OI  at 66.7 lakh, resistance at 9500 followed by 9400 .9200-9500 CE added 9.8 K Lakh in OI so bears added aggressively  in 9400-9500 CE,Expiry above 9450 looks difficult. FII bought 9.5 K CE longs and 9.1 K CE were shorted  by them.Retail bought 24.2 K CE contracts and 25.2 K shorted  CE were covered by them.
  • 9300 PE OI@48.9 lakhs having the highest OI strong support at 9300 followed by 9250. 9200-9500 PE liquidated 26 Lakh in OI so bulls ran for cover in 9300-9500 PE . FII bought 4.1 K PE and 705 PE were shorted by them. Retail bought 5.6 K PE contracts and 32 K PE were shorted by them.
  • FII’s bought 82 cores in Equity and DII’s bought 197 cores in cash segment.INR closed at 64.73

Buy above 9380 Tgt 9410,9435 and 9460 (Nifty Spot Levels)

Sell below 9340 Tgt 9325,9310 and 9285 (Nifty Spot Levels)

Upper End of Expiry: 9418

Lower End of Expiry: 9302

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3 thoughts on “Nifty Technical Analysis for May Expiry”

  1. Of late I have seen that FIIs and others are too smart. The data that is presented does not give a clear picture or indication as to what they have in mind.

    I feel Bramesh’s analysis on Gann Charts and levels give a better indication of whats happening.

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