Nifty near Gann Angle Support

  • FII sold 19.5  K contract of Index Future worth 1328 cores, Net OI has increased by 5.1  K contract, 7.2 K Long contract were covered by FII and 12.3 K shorts were covered by FII. Net FII Long Short ratio at 0.62, So FII used fall to exit longs and enter shorts.
  •  As discussed in last analysis  Bulls need to move above 9410 for a move towards 9467,9525. Bears will get active below 9343 for a move back to 9300,9225,9170 .Mars and Venus have went Ingres today so today high and low will be important for next 150-200 points move in Nifty. We had another gap down opening and now prices are back to gann angle support. Bears need to break 9137 for a move back to 9089/9041/8994. Bulls will get active above 9200 for a move back to 9262/9310.

  • Total Future & Option trading volume at 23.8 Lakh core with total contract traded at 2.5 lakh , PCR @0.84
  • Nifty May Future Open Interest Volume is at 0.75 Lakh core with addition of 1 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @9508 closed below it.
  • 9500 CE is having Highest OI at 8.7 Lakh, resistance at 9500 followed by 9600.9200-9700 CE added 19 Lakh in OI so bears added covered in range of 9500-9600.
  • 9000 PE OI@10 Lakhs having the highest OI strong support at 9100 followed by 9000. 9000-9500 PE added 2.5 Lakh in OI so bulls added position in range 9000 -9100.
  • FII’s sold 2152 cores and DII’s bought 802 cores in cash segment.INR closed at 75.67

Buy Above 9181 Tgt 9210,9242 and 9290(Nifty Spot Levels)

Sell Below 9119 Tgt 9080,9050 and 9000(opens in a ne (Nifty Spot Levels)

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