Nifty Bulls continue to rally higher,holding breakout level

  • FII’s bought 3.4 K contract of Index Future worth 229 cores ,5.8 K Long contract were added by FII’s and 2.3 K Short contracts were added by FII’s. Net Open Interest increased  by 8.2 K 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 1.35 .Time Based Scanner for Stocks for 01-05 May

 

  • As Discussed in Last Analysis  Nifty broke 10640 in opening and did the target of 10720 High made was 10719.8.  Now bulls need to hold 10640 for the move to continue towards 10800/10862. Bearish below 10610 for a move back to 10555/10500. High made was 10759 so we are still waiting for our target of 10800. Bulls need to hold 10640 for the upmove to continue towards 10800/10862.Bearish below 10610 for a move back to 10555/10500  Important intraday time for reversal can be at 10:14/2:09 . Bank Nifty breakout of Gann Angle,EOD Analysis

 

  • Nifty May Future Open Interest Volume is at 2.37 core with addition of 4.3 Lakh with increase in  cost of carry suggesting long position were added today, NF Rollover cost @10613 closed above it.
  • Total Future & Option trading volume at 4.32 Lakh core with total contract traded at 0.66 lakh , PCR @1.21
  • 10800 CE  is having Highest OI  at 31.1 Lakh, resistance at 10800 followed by 11000 .10300-11000 CE 6.8 lakh in OI so bears added position  in range of 10900-11000 CE. FII bought 8.2 K CE and 2.3 K CE were shorted  by them. Retail bought 36.7 K CE and 27.6 K CE  were shorted by them.

 

  • 10500 PE OI@37 lakhs having the highest OI strong support at 10500 followed by 10400 . 10000-10800 PE added 12 Lakh in OI so bulls added position in 10500-10600 PE. FII bought 23.6 K PE and 2.9 K PE were shorted  by them. Retail bought 58.1 K PE and 62.7 K PE were shorted  by them.

 

  • FII’s sold 385 cores  and DII’s bought 261 cores in cash segment.INR closed at 66.54

 

Buy above 10740 Tgt 10764,10788 and 10810 (Nifty Spot Levels)

Sell below 10705 Tgt 10680,10655 and 10640 (Nifty Spot Levels)

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