1. FII bought 3551 Contracts of Index Futures worth 96 cores OI increased by 38185.
2. As Nifty Futures was up by 52 points with OI increased by38185 , Huge Short were covered by FII.
3. INR closed at new low of 55.14, which also contributed to Bullish bias today,NS has 11 Points gaps which needs to be filled. 4931-4920 is the gap which is left in NS after todays upmove.
4.Nifty today closed above 4960 and also above 20 SMA which is technically bullish,Till it trades above 4982 bulls have upper hand. Hourly charts are overbought and dips till 4920 can happen as we have gaps and cool off in hourly charts will also be required. Also today’s move was only on short covering as cash market volumes were lower than friday.
5. Nifty May OI has decreased by 10 Lakhs .Total OI stands at 1.78 cores.Rollovers have started for June and till date 23 lakhs rollover have happened with NF range from 4825-4993.June series also added fresh 12 lakhs in OI and looks longs got rollovered.
6. Total F&O turnover was 1.36 lakh Cores with total contract traded at 2.81 lakh.Rally was on back of short covering only.Cash based volumes were down 10% from fridays price which shows rally was backed by short covering and no delivery based buying has occurred.
7. 5100 CE has seen an unwinding of 0.34 lakhs total OI now stands at 60 lakhs,Highest in May series. 5000CE has OI of 60 lakhs with unwinding of 8 lakhs ,If tomorrow morning first half we see an addition of 5-6 lakhs in 5000 CE, Nifty will find it difficult to cross 5000 and Traders can buy 4900 PE
8. On Put side 4700 PE is having highest OI of 85 lakhs making 4700 a strong base.4900 PE added 9 lakhs in OI premium being 13 rs so was it smart money buying the PE ?
9.FII bought 108 cores and DII bought 167 cores in cash segment.
10. Nifty Futures Trend Deciding level is 4765, Trend Changer at 4992 NF (Above this Level Bulls will rule Nifty/Below this levels Bears have upper hand).
Buy above 4996 Tgt 5010,5034and 5058
Sell below 4970 Tgt 4948,4920 and 4880 (Nifty Spot Levels)
Disclaimer: These are my personal views and trade taken on these observation should be traded with strict Sl
We do discussion is Live market to update Nifty levels If you are interested you can LIKE the page to get Real Time Updates.
Follow on Facebook during Market Hours: http://www.facebook.com/pages/Brameshs-Tech/140117182685863
You can register your email address under Post In your Inbox(Right Side Column) if you want to receive mail instantaneously as soon as site get updated. You will receive a confirmation mail in your registered email address you need to click on link to get it confirmed.