Nifty continue to rally another 100 points,EOD Analysis

  • FII’s bought 5.2 K contract of Index Future worth 479cores ,5.3 K Long contract were added by FII’s and 67 Short contracts were added  by FII’s. Net Open Interest increased  by 5.4 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 0.91. How to Control Emotions While trading

 

  • As Discussed in Last Analysis  Now Bulls should hold 10555 for the upmove to continue towards 10666 where we have gann angle resistance and above that 10720/10800. Bearish below 10510 for a move back to 10470/10410. High made today was 10710 so bulls almost did our target of 10720. Now bulls need a close above 10730 for the next round of move towards 10777/10830/10888. Bearish below 10610 for a move back to 10555/10480. Important intraday time for reversal can be at 9:47/2:15. Bank Nifty rallies 1000 points after doing price time squaring

 

 

  • Nifty May Future Open Interest Volume is at 2.08 core with liquidation of 12.8 Lakh with decrease in  cost of carry suggesting long position were closed today, NF Rollover cost @10613 closed above it rallied 100 points.
  • Total Future & Option trading volume at 7.64 Lakh core with total contract traded at 0.95 lakh , PCR @1.09
  • 10800 CE  is having Highest OI  at 50.3 Lakh, resistance at 10700 followed by 10800 .10300-11000 CE liquidated  10 lakh in OI so bears covered  position  in range of 10700-10800 CE. FII bought 880 CE and 7.5 K shorted CE were covered by them. Retail bought 6.5  K CE and 10.2  K CE were shorted by them.

 

  • 10500 PE OI@61.8 lakhs having the highest OI strong support at 10500 followed by 10400 . 10200-11000 PE  added 5.6 Lakh in OI so bulls added  position in 10500-10600 PE. FII sold 1.5 K PE and 1.4 K  PE were shorted by them. Retail bought 73 K PE and 48 K PE were shorted by them.

 

  • FII’s sold 795 cores  and DII’s bought 1017 cores in cash segment.INR closed at 67.43

 

Buy above 10695 Tgt 10720,10745 and 10777 (Nifty Spot Levels)

Sell below 10675 Tgt 10650,10630 and 10610 (Nifty Spot Levels)

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