Nifty Bulls continue to hold 10640,EOD Analysis

By | May 3, 2018 8:51 pm

  • FII’s bought 6.7 K contract of Index Future worth 578 cores ,5.3 K Long contract were added by FII’s and 1.3 K Short contracts were liquidated  by FII’s. Net Open Interest increased  by 4 K contract, so fall in market was used by FII’s to exit long and exit short in  Index futures.  FII’s Long to Short Ratio at 1.39 .Time Based Scanner for Stocks for 01-05 May

 

  • As Discussed in Last Analysis   Low  made today was 10689 so bulls continue to hold 10640 keeping the trend intact and waiting for target of 10800/10862. Bearish below 10610 for a move back to 10555/10500. Low  made today was 10647 so bulls continue to hold 10640 keeping the trend intact and waiting for target of 10800/10862. Bearish below 10610 for a move back to 10555/10500. 06 May is an important trend change date so we can see effect either tommrow or Monday.Important intraday time for reversal can be at 10:27/2:20 . Bank Nifty Bulls continue holding gann angle,EOD Analysis

 

  • Nifty May Future Open Interest Volume is at 2.37 core with liquidation of 0.03 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 11.80 Lakh core with total contract traded at 0.97 lakh , PCR @1.01
  • 10800 CE  is having Highest OI  at 36.9 Lakh, resistance at 10800 followed by 11000 .10300-11000 CE 6.7 lakh in OI so bears added position  in range of 10900-11000 CE. FII sold 5.9 K CE and 2 K  shorted CE were covered by them. Retail sold 52.1 K CE and 57 K  shorted CE  were covered by them.

 

  • 10500 PE OI@45 lakhs having the highest OI strong support at 10500 followed by 10400 . 10000-10800 PE added 6.9 Lakh in OI so bulls added position in 10500-10600 PE. FII bought 2.2 K PE and 5.3 K shorted PE were covered  by them. Retail sold 144 K PE and 112 K shorted PE were covered  by them.

 

  • FII’s sold 148 cores  and DII’s sold 578 cores in cash segment.INR closed at 66.64

 

Buy above 10685 Tgt 10700,10720 and 10755 (Nifty Spot Levels)

Sell below 10660 Tgt 10640,10610 and 10590 (Nifty Spot Levels)

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Category: Daily

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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