Nifty Analysis for 19 May

  • FII sold 16.9 K contract of Index Future worth 803 cores, Net OI has increased by 4.9  K contract, 1 K Long contract were covered by FII and 15.9 K shorts were added by FII. Net FII Long Short ratio at 0.38, So FII used fall to exit longs and enter shorts.
  •  As discussed in last analysis As we are near gann angle support Bulls need to move above 9145 for a move back to 9193/9241/9289. Bears will get active below 9086 for a move back to 9038/8991/8944. All Bearish target done below 9086,8860 is very important gann number which should be watched closely. Bulls can rally towards 8947/8994/9042. Bears will get active below 8800 for a move towards 8759/8712/8665/8600.

  • Total Future & Option trading volume at 9 Lakh core with total contract traded at 2.8 lakh , PCR @0.93
  • Nifty May Future Open Interest Volume is at 0.78 Lakh core with addition of 1.7 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @9508 closed below it.
  • 9000 CE is having Highest OI at 13.7  Lakh, resistance at 9000 followed by 9100.9000-9300 CE added 19 Lakh in OI so bears added in range of 9000-9200.FII bought 10.3 K CE and 20.9 K CE were shorted by them. Retailers bought 246 K CE and 154 K  CE were shorted by them.
  • 8800 PE OI@9.4 Lakhs having the highest OI strong support at 8800 followed by 8700. 8800-9000 PE liquidated 9 Lakh in OI so bulls covered position in range 9000 -9100.FII bought 12.5 K PE and 12.2  K PE were shorted by them. Retailers bought 23.7 K PE and 22.6 K PE were shorted by them.
  • FII’s sold 2512 cores and DII’s bought 152 cores in cash segment.INR closed at 76.03

Buy Above 8930 Tgt 8989,9030 and 9100 (Nifty Spot Levels)

Sell Below 8876 Tgt 8840,8800 and 8750(opens in a ne (Nifty Spot Levels)

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