Nifty Analysis as Sun Conjunct Uranus

  • FII bought 27.6 K contract of Index Future worth 1548 cores, Net OI has decreased by 3.8 K contract, 11.9 K Long contract were added by FII and 15.7 K shorts were covered by FII. Net FII Long Short ratio at 1.2, So FII used rise to enter  longs and exit shorts.
  •  As discussed in last analysis  Bulls need to move above 9220 for a move back to 9280/9343/9290.Bears need a close below 9130 for a move back to 9070/9020/8950.We had important astro event yesterday as discussed in below video and also we are near gann angle support suggesting good move should come in next 2 days.  Bulls need to move above 9320 for a move back to 9390/9444/9492/9540.Bears need a close below 9232 for a move back to 9184/9136/9088/9041.

  • Total Future & Option trading volume at 7.15  Lakh core with total contract traded at 2.2 lakh , PCR @0.90
  • Nifty May Future Open Interest Volume is at 0.34Lakh core with addition of 8.8 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @8093 closed above it.
  • 9300 CE is having Highest OI at 11 Lakh, resistance at 9300 followed by 9400.8800-9200 CE added 3 Lakh in OI so bears added position in range of 9300-9400. FII bought 9.1  K CE Long 686 CE were shorted by them. Retailers bought 42 K CE and 38 K CE were shorted by them.
  • 9000 PE OI@11 Lakhs having the highest OI strong support at 9000 followed by 8900. 8700-9000 PE added 5 Lakh in OI so bulls added position in range 8800 -9000.FII bought 9.3 K PE Long 9.2 K PE were shorted by them. Retailers bought 72 K PE and 54 K PE were shorted by them.
  • FII’s sold 916 cores and DII’s Bought 1114 cores in cash segment.INR closed at 76.20

Buy Above 9320 Tgt 9351,9390 and 9430 (Nifty Spot Levels)

Sell Below 9260 Tgt 9230,9200 and 9176 (opens in a ne (Nifty Spot Levels)

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