Nifty approaching the end of sideways time cycle

By | May 9, 2017 9:46 pm

  • FII’s sold 13.8 K contract of Index Future worth 1083 cores ,1.9 K Long contract were liquidated by FII’s and 11.8 K  Short contracts were added by FII’s. Net Open Interest increased  by 9.8K contract, so fall in market was used by FII’s to exit long and enter short in  Index futures. Should I trade or not ?
  • As discussed in last analysis   So we continue to trade in range of 9367-9270 near gann angle support suggesting both bulls and bears are fighting hard for the range expansion. As per time analysis May 11 is important date. We are approaching the end of sideways time cycle, get ready for a trending move in next 1-2 days.Trend  trader should wait for range break for move towards 9425/9460 on upside and 9220/9170 on downside.  Bank Nifty ready for big move,EOD Analysis

  • Nifty May Future Open Interest Volume is at 1.93 core with addition of 3.3 Lakh with increase in  cost of carry suggesting long position were added today, NF Rollover cost @9307 Closed above it.
  • Total Future & Option trading volume at 3.30 Lakh core with total contract traded at 0.70 lakh , PCR @0.99
  • 9400  CE  is having Highest OI  at 58.2  lakh, resistance at 9400 followed by 9500 .9000-9500 CE added 2.2 Lakh in OI so bears added aggressively in 9400-9500 CE.FII bought 3.8 K CE longs and 528  CE were shorted  by them.Retail bought 30.6 K CE contracts and 19.7 K  CE were shorted  by them.
  • 9300 PE OI@60.6 lakhs having the highest OI strong support at 9300 followed by 9200. 9000-9500 PE added 14 Lakh in OI so bulls added in 9100/9200/9300 PE . FII bought 5.1 K PE and 10.7 K PE were shorted by them. Retail bought 26 K PE contracts and 25 K shorted PE were covered by them.
  • FII’s bought 332 cores in Equity and DII’s bought 16 cores in cash segment.INR closed at 64.63

Buy above 9352  Tgt 9377,9400 and 9421 (Nifty Spot Levels)

Sell below 9320 Tgt 9301,9270 and 9251 (Nifty Spot Levels)

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