Nifty continue to hold Astro Date Low

  • FII’s sold 15.4 K contract of Index Future worth 1296 cores 14.5 K Long contract were covered by FII’s and 3.6 K Short contracts were covered by FII’s. Net Open Interest decreased  by 13.7 K contract, so fall in Nifty was used by FII’s to exit long and exit short in  Index futures.FII’s Long to Short Ratio at 1.40.  How Comfortable you are with your trading ?
  • As Discussed in Last Analysis Also tomorrow being an important astro date  we can see trend reversal in Nifty if we hold today low of 11260. Also Range of 11220-1121 is important Demand zone Bulls can rally towards 11361/11410/11468. Nifty did 11151 as low so we did held the astro low but failed to give rally as bank nifty gave. Till we are holding 11210-11220 range we can see the relief rally in nifty towards 11361/11410/11468 . Bears will get active below 11197  for a move back to 11100/11044. THE MOST NEGLECTED TRADING DISCIPLINE

  • Nifty May Future Open Interest Volume is at 1.69 core with liquidation of 9.9 Lakh with  decrease in  cost of carry suggesting short position were closed today, NF Rollover cost @11742,closed below it.
  • Total Future & Option trading volume at 6.73 Lakh core with total contract traded at 1.45 lakh , PCR @0.89
  • 11700 CE  is having Highest OI  at 12.4  Lakh, resistance at 11400 followed by 11500 .11000-11800 CE added 1.3 Lakh in OI so bears added position in range of 11600-11800. FII bought 7.5 K CE and 23.4 K CE were shorted by them. Retail bought 85.3 K CE and 56 K CE were shorted by them.
  • 11000 PE OI@25.6 Lakhs having the highest OI strong support at 11200 followed by 11100 . 11000-11600 PE added 3.5  Lakh in OI so bulls added position in range 11200-11300 .FII bought 20 K PE and 1.3 K PE were shorted by them. Retail bought 37.5 K PE and 37.9 K PE were shorted by them.

Buy above 11295 Tgt 11321,11343 and 11366 (Nifty Spot Levels)

Sell below 11250 Tgt 11220,11197 and 11166 (Nifty Spot Levels)

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