Nifty Analysis as “New” Mercury Cycle Starts

  • FII sold 19 K contract of Index Future worth 1605 cores, Net OI has decreased by 928 contract, 10 K Long contract were covered by FII and 9.3 K shorts were added by FII. Net FII Long Short ratio at 1.24, So FII used fall to exit longs and enter shorts.
  •  As discussed in last analysis We will open with gap down on Monday as we react from gann angle as seen in below chart Bulls need to hold 9355-9310 zone for rally back to 9460/9600. Bears will get active below 9250 for a move back to 9200/9100/9000. Low made was 9266 so bears unable to push towards 9250 and held on to gann angle as shown below. As new mercury cycle is starting today so high and low of 04 May ie. 9533 and 9266 break of any side will 150-250 points move in nifty as discussed in below video. Now Bulls need a close above 9365 for a move towards 9410/9460/9525.Bears will get active below 9250 for a move back to 9195/9146/9098/9050.

  • Total Future & Option trading volume at 7.5  Lakh core with total contract traded at 2.4lakh , PCR @1.05
  • Nifty May Future Open Interest Volume is at 0.89 Lakh core with liquidation of 2.5 Lakh with decrease in cost of carry suggesting short position were closed today, NF Rollover cost @9508 closed below it.
  • 9600 CE is having Highest OI at 4 Lakh, resistance at 9500 followed by 9600.9300-9700 CE added 12 Lakh in OI so bears added position in range of 9600-9700. FII bought 9.9 K CE Long 16.8 K CE were shorted by them. Retailers bought 218 K CE and 173 K CE were shorted by them.
  • 9200 PE OI@5 Lakhs having the highest OI strong support at 9200 followed by 9100. 9000-9500 PE added 15 Lakh in OI so bulls added position in range 9400 -9350.FII bought 18.5 K PE Long 1 K PE were shorted by them. Retailers bought 52 K PE and 61 K PE were shorted by them.
  • FII’s sold 1373cores and DII’s sold 1661 cores in cash segment.INR closed at 75.85

Buy Above 9365 Tgt 9400,9460 and 9500 (Nifty Spot Levels)

Sell Below 9250 Tgt 9196,9150 and 9098 (opens in a ne (Nifty Spot Levels)

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