Nifty crashes 300 points as Venus Ingress Shows Impact

  • FII sold 4.8K contract of Index Future worth 555 cores, Net OI has increased by 6.6 K contract 879 Long contract were added by FII and 5.7 K Shorts were added by FII. Net FII Long Short ratio at 0.67 so FII used fall to enter longs and enter shorts.
  • As Discussed in Last Analysis   We opened gap down as we saw the impact of Venus Ingress and  bears got entry at 14888 and now waiting for the target of 14826/14777/14729. Bulls need to move above 14975 for a move towards 15046/15100.We got the perfect Entry at Venus Ingress low on 11 May and we are down almost 300 points from that level completing all our target and traders who are carrying shorts will be rewarded with bonus points tommrow. As we have Jupiter Ingress today and today being holiday so effect will be seen tommrow Range of 14519-14530 important support zone unable to hold this we can see fall extending towards 14444/14300 levels. Bulls will get active above 14601 for a move back to 14666/14729.
  • Total Future & Option trading volume at 80.5 Lakh core with total contract traded 1.57 lakh Highest volume in May Expiry, PCR @0.89
  • Nifty April  Future Open Interest Volume is at 1.17 Cores with addition of 5.4 Lakh with decrease in cost of carry suggesting SHORT position were added today, NF Rollover cost @14703 closed above it. 
  • 15000 CE is having Highest OI at 17.4 Lakh, resistance at 14800 followed by 15000. 14800-15000 CE added 12 Lakh in OI so bears covered in range of 14900-15100.
  • 14500 PE OI@12.2 Lakhs having the highest OI strong support at 14500 followed by 14400. 14500-14700 PE added 14 Lakh in OI so bulls addded position in range 14500-14700.
  • FII’s sold 1260 cores and DII’s sold 704 cores in cash segment.INR closed at 73.60

Buy Above 14576 Tgt 14600,14636 and 14666 (Nifty Spot Levels)

Sell Below 14549 Tgt 14525, 14500 and 14476 (Nifty Spot Levels)

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