Nifty ready for a Big Move,EOD Analysis

  • FII sold 23.7 K contract of Index Future worth 1628 cores, Net OI has decreased by 3.8 K contract, 13.7 K Long contract were liquidated by FII and 9.9 K shorts were added by FII. Net FII Long Short ratio at 0.99, So FII used fall to exit longs and enter shorts.
  •  As discussed in last analysis  Bulls need to move above 9300 for a move towards 9344/9400. Bears need to break 9210 for move to continue towards 9150/9100/9046.Nifty has formed Inside Bar/NR7 and also astro date effect should be seen in next 2 days, so we should be ready for a big move. Bulls need to move above 9225 for a move towards 9277/9346. Bears need to break 9150 for move to continue towards 91005/9058.

  • Total Future & Option trading volume at 22.7   Lakh core with total contract traded at 2.2 lakh , PCR @0.77
  • Nifty May Future Open Interest Volume is at 0.79 Lakh core with addition of 1.4 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @9508 closed below it.
  • 9400 CE is having Highest OI at4  Lakh, resistance at 9400 followed by 9500.9300-9700 CE added 10 Lakh in OI so bears added position in range of 9500-9700.
  • 9000 PE OI@4.2 Lakhs having the highest OI strong support at 9100 followed by 9000. 9000-9500 PE added 5 Lakh in OI so bulls added position in range 9400 -9350.
  • FII’s bought 19056 cores and DII’s bought 3818 cores in cash segment.INR closed at 76.04

Buy Above 9227 Tgt 9258,9290 and 9344 (Nifty Spot Levels)

Sell Below 9150 Tgt 9116,9080 and 9050 (opens in a ne (Nifty Spot Levels)

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