Nifty EOD Analysis for 06 May

  • FII bought 1.9 K contract of Index Future worth 178 cores, Net OI has decreased by 928 contract, 2 K Long contract were added by FII and 125 K shorts were added by FII. Net FII Long Short ratio at 1.28, So FII used fall to enter longs and enter shorts.
  •  As discussed in last analysis 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. Bears were able to break 9250 and got 1 target downside,Now bears need to break 9190 for move to continue towards 9146/9098/9050. Bulls need to move above 9286 for a move towards 9334/9382/9450. 06 May is important astro date and also neural turn date.

  • Total Future & Option trading volume at 10.08  Lakh core with total contract traded at 2.4 lakh , PCR @0.94
  • Nifty May Future Open Interest Volume is at 0.83 Lakh core with liquidation of 5.5 Lakh with decrease in cost of carry suggesting short position were closed today, NF Rollover cost @9508 closed below it.
  • 9500 CE is having Highest OI at 19.1 Lakh, resistance at 9500 followed by 9600.9300-9700 CE added 20 Lakh in OI so bears added position in range of 9500-9700. FII sold 647 CE Long 6 K CE were shorted by them. Retailers bought 138 K CE and 89 K CE were shorted by them.
  • 9000 PE OI@14.2 Lakhs having the highest OI strong support at 9200 followed by 9100. 9000-9500 PE added 5 Lakh in OI so bulls added position in range 9400 -9350.FII bought 4.9 K PE Long 8.5 K PE were shorted by them. Retailers bought 30 K PE and 35 K PE were shorted by them.
  • FII’s sold 1059 cores and DII’s sold 995 cores in cash segment.INR closed at 75.85

Buy Above 9245 Tgt 9280,9320 and 9365 (Nifty Spot Levels)

Sell Below 9190 Tgt 9160,9120 and 9050 (opens in a ne (Nifty Spot Levels)

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