Nifty Analysis after Karnataka Election Political Drama

  • FII’s sold 18.6 K contract of Index Future worth 1434 cores ,76 Long contract were covered by FII’s and 18.5 K Short contracts were added  by FII’s. Net Open Interest increased  by 18.4 K contract, so fall in market was used by FII’s to exit long and enter short in  Index futures.  FII’s Long to Short Ratio at 1.15 Trading Is Harder Than You Think: Complexity Of Trading

 

  • As Discussed in Last Analysis   BHigh made today was 10777 so bulls unable to go above 10800 and bears closed below 10700 suggesting we are heading lower towards 10656/10610 till we are trading below 10720. 18-19 May are another important confluence of astrological date, suggesting we can see good move either Friday or Monday.Bulls need close above 10730 for a move towards 10777/10820/10888. 10610 done as we expected below 10700 and big move came as per time cycle, Now 10512 is level to watch on Monday in case of gap down due to Karnataka Election. Bearish below 10512 for a move back to 10460/10410. Bullish above 10610 for a move towards 10666/10730  .Important intraday time for reversal can be at 9:21/2:07 .Will Bank Nifty give relief rally holding gann angle,EOD Analysis

 

  • Nifty May Future Open Interest Volume is at 2.40 core with addition of 5.3  Lakh with increase in  cost of carry suggesting short position were added today, NF Rollover cost @10613 closed below it.
  • Total Future & Option trading volume at 5.32 Lakh core with total contract traded at 1.22 lakh , PCR @0.92
  • 10800 CE  is having Highest OI  at 51.5 Lakh, resistance at 10800 followed by 11000 .10300-11000 CE added 26.7  lakh in OI so bears added position  in range of 10700-10800 CE. FII sold 12.7 K CE and 7.6 K CE were shorted by them. Retail bought 64.7 K CE and 31.5 K  CE were shorted by them.

 

  • 10500 PE OI@53.7  lakhs having the highest OI strong support at 10500 followed by 10400 . 10400-11000 PE liquidated 25.6  Lakh in OI so bulls covered position in 10500-10600 PE. FII bought 15.7 K PE and 1.4 K PE were shorted by them. Retail sold 17.8 K PE and 13.2 K PE were shorted by them.

 

  • FII’s sold 166 cores  and DII’s bought 149 cores in cash segment.INR closed at 68.01

 

Buy above 10610 Tgt 10630,10650 and 10675 (Nifty Spot Levels)

Sell below 10565 Tgt 10530,10510 and 10480 (Nifty Spot Levels)

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