Nifty Analysis for 07 May

  • FII sold 2.4 K contract of Index Future worth 251 cores, Net OI has increased by 6.8 K contract 2.1 K Long contract were added by FII and 4.6 K  Shorts were added by FII. Net FII Long Short ratio at 1.03 so FII used fall to enter longs and enter shorts.
  • As Discussed in Last Analysis Low made was 14506 so bulls got entry at 14530 and did 1 target on upside, and were able to close above 14610 as discussed in below video waiting for the target of 14666/14729/14799. Bears will get active below 14555 for move towards 14499/14444/14400. 14729 also done and low made today was 14611 near 14610 so we were able to capture the whole rally also today we close above mercury ingress high, Till 14723 is held bulls can rally towards 14775/14825/14900. Bears will get active below 14676 for a move back to 14610/14561/14512.
  • Total Future & Option trading volume at 79.7 Lakh core with total contract traded 1.26 lakh , PCR @0.89
  • Nifty April  Future Open Interest Volume is at 1.12 Cores with addition of 4.1 Lakh with decrease in cost of carry suggesting LONG position were added , NF Rollover cost @14703 closed below it. 
  • 14900 CE is having Highest OI at 11 Lakh, resistance at 14900 followed by 15000. 14600-14800 CE added 2.3 Lakh in OI so bears covered in range of 14800-14900. 
  • 14500 PE OI@8.9 Lakhs having the highest OI strong support at 14500 followed by 14400. 14400-14500 PE added 10 Lakh in OI so bulls addded position in range 14400-14500.
  • FII’s bought 1222 cores and DII’s sold 632 cores in cash segment.INR closed at 73.96

Buy Above 14744 Tgt 14775,14800 and 14825 (Nifty Spot Levels)

Sell Below 14691 Tgt 14677, 14643 and 14610 (Nifty Spot Levels)

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