Nifty bounces from gann support,EOD Analysis

By | May 4, 2017 8:47 pm

  • FII’s sold  6.9 K contract of Index Future worth 439 cores ,1.9 K  Long contract were added by FII’s and 4.9 Short contracts were added by FII’s. Net Open Interest increased  by 2.9 K contract, so rise in market was used by FII’s to enter long and enter short in  Index futures. Trading Sins
  • As discussed in last analysis   So nifty continue to trade in range of 9367-9274, and in the process took support near gann angles from last 3 trading days, Best strategy to trade this market buy low and sell high till we see range breakout/breakdown. Trend traders should wait for range expansion above 9367 or below 9274 for taking fresh trades. High made today was 9365 and low made was 9323 so even though we held on the gann angle but still unable to break the range of 9274-9367. Trend trades still on sidelines range trades making merry. Breakout above 9367 for a move towards 9424/9462.  Bank Nifty does 250 points above 22500,EOD Analysis

  • Nifty May Future Open Interest Volume is at 1.96 core with addition of 1.6 Lakh with decrease in  cost of carry suggesting short position were added today, NF Rollover cost @9307 Closed above it.
  • Total Future & Option trading volume at 7.55 Lakh core with total contract traded at 0.90 lakh , PCR @1.02
  • 9500  CE  is having Highest OI  at 49.2 lakh, resistance at 9500 followed by 9400 .9000-9500 CE liquidated 1 Lakh in OI so bears booked partially in 9400-9500 CE.FII bought 16.6 K CE longs and 357  CE were shorted  by them.Retail sold 93.5 K CE contracts and 50.3 K  shorted  CE were covered by them.
  • 9300 PE OI@57.2 lakhs having the highest OI strong support at 9200 followed by 9200. 9000-9500 PE added 26.6 Lakh in OI so bulls added in 9100/9200 PE . FII bought 10.6  K PE and 10.8 K PE were shorted by them.  .Retail sold 7 K PE contracts and 20.1 K shorted PE were covered by them.
  • FII’s sold 601 cores in Equity and DII’s bought 926 cores in cash segment.INR closed at 64.18

Buy above 9367  Tgt 9390,9418 and 9444 (Nifty Spot Levels)

Sell below 9340 Tgt 9320,9300 and 9274 (Nifty Spot Levels)

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