Nifty Analysis as Mercury Change the Sign

  • FII’s sold 10.6 K contract of Index Future worth 912 cores 164 Long contract were added by FII’s and 10.8 K Short contracts were added by FII’s. Net Open Interest decreased  by 12.6 K contract, so fall in Nifty was used by FII’s to enter long and enter short in  Index futures.FII’s Long to Short Ratio at 2.14.  How Comfortable you are with your trading ?
  • As Discussed in Last Analysis Time Cycle move is getting delayed so bigger and faster move will be seen. Bulls will get active above 11797 for move back to 11856/11912. Bears need to move below 11699 for a move back to 11650/11600. We got the big move as per expectation but it was in gap down so traders who carried position below 11721 would have been rewarded, rest nothing much to trade today as we had mercury sign change today as shown in below video, so a good move should be seen. Bulls will get active above 11641 for a move towards 11700/11777/11856. Bears will get active below 11550 for a move towards 11470/11400. Bank Nifty Analysis as Mercury Change the Sign

  • Nifty May Future Open Interest Volume is at 1.90core with addition of 3.2 Lakh with  increase in  cost of carry suggesting Long position were closed today, NF Rollover cost @11742,closed above it.
  • Total Future & Option trading volume at 6.84 Lakh core with total contract traded at 0.94lakh , PCR @0.86
  • 12000 CE  is having Highest OI  at 14.6  Lakh, resistance at 11850  followed by 12000 .11000-11800 CE added 4.4 Lakh in OI so bears added position in range of 11800-12000. FII bought 9.1 K CE and 4.1 K CE were shorted by them. Retail bought 113 K CE and 73.1 K CE were shorted by them.
  • 11500 PE OI@19.5 Lakhs having the highest OI strong support at 11500 followed by 11600 . 11000-11600 PE added 4.1  Lakh in OI so bulls added position in range 11500-11600 .FII bought 13.9 K PE and 1.4 K PE were shorted by them. Retail sold 17.8 K PE and 6.4 K shorted PE were covered  by them.

Buy above 11610 Tgt 11630,11666 and 11691 (Nifty Spot Levels)

Sell below 11570 Tgt 11555,11540 and 11512 (Nifty Spot Levels)

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