Nifty rallies above 11700,EOD Analysis

  • FII’s sold 3.4 K contract of Index Future worth 9 cores 16.1 K Long contract were covered by FII’s and 19.6 K Short contracts were added by FII’s. Net Open Interest increased  by 35.8 K contract, so rise in Nifty was used by FII’s to enter long and enter short in  Index futures.FII’s Long to Short Ratio at 1.06.  How Comfortable you are with your trading ?
  • As Discussed in Last Analysis Today High will remains high for next 15-20 days,Nifty will consolidate gain and mostly will move in range bound move. Nifty Bulls will get active above 11698 for a move towards 11753/11807/11861.
  • Nifty bounced above 11698 to achieve all our target on upside.26 May is important time cycle date so effect will be seen on Monday.  Nifty bulls need close above 11896 for a move towards 11939/12000. Bears will get active below 11810 for a move back to 11772/11722/11666.THE MOST NEGLECTED TRADING DISCIPLINE

  • Nifty May Future Open Interest Volume is at 1.73 core with addition  of 1.2 Lakh with  increase in  cost of carry suggesting long position were added today, NF Rollover cost @11742,closed above it.
  • Total Future & Option trading volume at 9.81 Lakh core with total contract traded at 1.80 lakh , PCR @0.88
  • 12000 CE  is having Highest OI  at 36.9 Lakh, resistance at 11900 followed by 12000 .11000-11800 CE liquidated 16.4 Lakh in OI so bears covered position in range of 11800-12000. FII bought 17 K CE and 11 K shorted  CE were covered by them. Retail sold 46.1 K CE and 6.8 K CE were shorted by them.
  • 11700 PE OI@26.4 Lakhs having the highest OI strong support at 11700 followed by 11600 . 11000-11700 PE added 36  Lakh in OI so bulls added huge position in range 11500-11600 .FII bought 2.2 K PE and 7.3 K shorted PE were covered by them. Retail bought 157 K PE and 115 K PE were shorted by them.

Buy above 11860 Tgt 11884,11910 and 11943  (Nifty Spot Levels)

Sell below 11810 Tgt 11787,11750 and 11721 (Nifty Spot Levels)

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