Nifty Ready for Big Move

  • FII bought 40.4 K contract of Index Future worth 2331 cores, Net OI has decreased by 8.8 K contract, 15.8 K Long contract were added by FII and 24.6 K shorts were covered by FII. Net FII Long Short ratio at 0.09, So FII used rise to enter longs and exit shorts.
  •  As discussed in last analysis 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. Nifty opened with gap up, and bulls were able to hold 8860. As per time cycle as discussed in below video nifty should see a trending move in next 2 days.Nifty bulls need to move 8921 for a move towards 8987/9030/9100. Bears will get active below 8840 for a move towards 8794/8747/8700.

  • Total Future & Option trading volume at 10.8 Lakh core with total contract traded at 2.9 lakh , PCR @0.88
  • Nifty May Future Open Interest Volume is at 0.79 Lakh core with addition of 0.37 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 16.7  Lakh, resistance at 9000 followed by 9100.9000-9300 CE added 9 Lakh in OI so bears added in range of 9000-9200.FII bought 25.8 K CE and 1.1 K CE were shorted by them. Retailers sold 46 K CE and 2 K  CE were shorted by them.
  • 8800 PE OI@12.4 Lakhs having the highest OI strong support at 8800 followed by 8700. 8800-9000 PE added 4 Lakh in OI so bulls added position in range 8800 -8700.FII sold 6.9 K PE and 4.5 K PE were shorted by them. Retailers bought 83 K PE and 46 K PE were shorted by them.
  • FII’s sold 1328 cores and DII’s bought 1659 cores in cash segment.INR closed at 75.67

Buy Above 8920 Tgt 8950,8980 and 9030 (Nifty Spot Levels)

Sell Below 8840 Tgt 8810,8780 and 8750(opens in a ne (Nifty Spot Levels)

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