Nifty Weekly Expiry Analysis

  • FII bought 9.7 K contract of Index Future worth 510 cores, Net OI has increased by 687 contract, 5.2 K Long contract were added by FII and 4.5 K shorts were covered by FII. Net FII Long Short ratio at 1.63, So FII used rise to enter longs and exit shorts.
  •  As discussed in last analysis 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. Nifty did almost 2 target downside and did 1 target on upside and saw a strong reversal.As we have weekly expiry tommrow , 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.

  • Total Future & Option trading volume at 14.4  Lakh core with total contract traded at 3.1lakh , PCR @0.85
  • Nifty May Future Open Interest Volume is at 0.78 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.
  • 9400 CE is having Highest OI at 24  Lakh, resistance at 9400 followed by 9500.9300-9700 CE added 20 Lakh in OI so bears added position in range of 9500-9700. FII bought 13.9 K CE Long 2.5 K CE were shorted by them. Retailers bought 4.3 K CE and 11.3 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 4.4 K PE Long 9.6 K PE were shorted by them. Retailers bought 116 K PE and 75.7 K PE were shorted by them.
  • FII’s sold 493 cores and DII’s sold 322 cores in cash segment.INR closed at 76.04

Buy Above 9245 Tgt 9280,9310 and 9344 (Nifty Spot Levels)

Sell Below 9190 Tgt 9160,9120 and 9070 (opens in a ne (Nifty Spot Levels)

Upper End of Expiry: 9471

Lower End of Expiry : 9070

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