Nifty Analysis PM Modi Announces 20 Lakh crore Package

By | May 12, 2020 9:01 pm

  • FII sold 14.2 K contract of Index Future worth 872 cores, Net OI has increased by 4.8 K contract, 4.6 K Long contract were covered by FII and 9.5 K shorts were added by FII. Net FII Long Short ratio at 1, So FII used fall to exit longs and enter shorts.
  •  As discussed in last analysis Bears will get active below 9197 for a move back to 9147/9102/9055. Bulls will get active above 9270 for a move towards 9329/9380/9444.Nifty opened with gap down and did all target on downside and bounced from gann angle support as shown in below chart, As Our Beloved PM Modi has announced Financial Package of 20 Lakh cores so market should open with gap up as Neural also indicated down on 12 and than upmove on 13, Bulls need to move above 9460 for a move back to 9555,9610,9666. Bears will get active below 9310 for a move back to 9250,9160,9100.

  • Total Future & Option trading volume at 10.73  Lakh core with total contract traded at 2.5 lakh , PCR @0.84
  • Nifty May Future Open Interest Volume is at 0.73 Lakh core with liquidation of 0.29 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @9508 closed below it.
  • 9600 CE is having Highest OI at 11.7 Lakh, resistance at 9600 followed by 9800.9300-9700 CE liquidated 7 Lakh in OI so bears added covered in range of 9500-9700.FII bought 10 K CE and 8.8 K CE were shorted by them. Retailers bought 17 K CE and 0.27 K  shorted CE were covered by them.
  • 9000 PE OI@17.4 Lakhs having the highest OI strong support at 9100 followed by 9000. 9000-9500 PE added 2.5 Lakh in OI so bulls added position in range 9200 -9300.FII bought 6.7 K PE and 6.5 K PE were shorted by them. Retailers bought 22.6 K PE and 24.9 K PE were shorted by them.
  • FII’s sold 1662 cores and DII’s bought 364 cores in cash segment.INR closed at 75.39.

Buy Above 9484 Tgt 9555,9620 and 9717 (Nifty Spot Levels)

Sell Below 9300 Tgt 9250,9170 and 9100 (opens in a ne (Nifty Spot Levels)

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