How to Trade Nifty Karnataka Election Verdict

  • FII’s bought 2.6 K contract of Index Future worth 200 cores ,3.5 K Long contract were added by FII’s and 883 Short contracts were added  by FII’s. Net Open Interest increased  by 4.4K contract, so rise in market was used by FII’s to enter long and enter short in  Index futures.  FII’s Long to Short Ratio at 1.42 Trading Is Harder Than You Think: Complexity Of Trading

 

  • As Discussed in Last Analysis  Now bulls need to hold 10777 for upmove to continue towards 10866/10920.   Bearish below 10750 for a move back 10690/10630. Low made was 10774 so bulls protected 10777. till we are holding 10730 bulls can continue towards 10866/10920.Range of 10920-10900 is again an important supply zone. Bearish below 10730 for a move back 10656/10590.  Wild swings will be observed tommrow as results will keep pouring in, trade extremely cautiously.Important intraday time for reversal can be at 12:12/1:39/2:22 .How to Trade Bank Nifty Karnataka Election Verdict

 

  • Nifty May Future Open Interest Volume is at 2.45 core with liquidation of 5.2 Lakh with decrease in  cost of carry suggesting long position were closed today, NF Rollover cost @10613 closed above it.
  • Total Future & Option trading volume at 4.04 Lakh core with total contract traded at 0.75 lakh , PCR @1.07
  • 10800 CE  is having Highest OI  at 36.4 Lakh, resistance at 10800 followed by 11000 .10300-11000 CE added 3.7 lakh in OI so bears added  position  in range of 10700-10800 CE. FII bought 3 K CE and 10.8 K CE were shorted by them. Retail bought 43 K CE and 17 K  CE were shorted by them.

 

  • 10500 PE OI@66 lakhs having the highest OI strong support at 10500 followed by 10400 . 10400-11000 PE added 16.9  Lakh in OI so bulls added position in 10500-10600 PE. FII bought 6.5 K PE and 16.6 K  PE were shorted by them. Retail bought 46.8 K PE and 38.6  K shorted  PE were covered by them.

 

  • FII’s bought 7171 cores  and DII’s bought 687 cores in cash segment.INR closed at 67.51

 

Buy above 10836 Tgt 10865,10896 and 10930 (Nifty Spot Levels)

Sell below 10800 Tgt 10775,10750 and 10715 (Nifty Spot Levels)

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