Nifty Analysis for Lok Sabha Result Day

  • FII’s bought 1.2 K contract of Index Future worth 135 cores 14.5 K Long contract were added by FII’s and 13.3 K Short contracts were added by FII’s. Net Open Interest increased  by 27.8 K contract, so rise in Nifty was used by FII’s to enter long and enter short in Index futures.FII’s Long to Short Ratio at 1.25.
  • Till we are below 11740 bears can push Nifty towards 11666/11585/11512. Bulls will get active above 11793 for a move back to 11870. 11896-11910 is important zone of resistance big rally on close above 11896 only.
  • We held on the yesterday low of 11682 formed a perfect doji today. We formed an inside day today be prepared for volatility if you are having small capital try to stay away as volatile move can lead to big losses. Bulls will get active above 11800 for a move back to 11896. 11896-11910 is important zone of resistance big rally on close above 11896 only towards 12080/12167/12260. Bears will get active below 11666 for a move back to 11570/11500/11400.

  • Nifty May Future Open Interest Volume is at 1.76 core with addition  of 9.8 Lakh with  increase in  cost of carry suggesting long position were added today, NF Rollover cost @11742,closed above it.
  • Total Future & Option trading volume at 5.27  Lakh core with total contract traded at 1.44  lakh , PCR @0.88
  • 11800 CE  is having Highest OI  at 16.1 Lakh, resistance at 11800 followed by 12000 .11000-11800 CE added 2.3 Lakh in OI so bears added position in range of 11900-12000. FII bought 170 CE and 17.1 K CE were shorted by them. Retail bought 122 K CE and 85.3 K CE were shorted by them.
  • 11500 PE OI@16 Lakhs having the highest OI strong support at 11600 followed by 11500 . 11000-11700 PE added 7.5  Lakh in OI so bulls added huge position in range 11400-11500 .FII bought 6.7 K PE and 18.2 K PE were shorted by them. Retail bought 81.8 K PE and 66.4 K PE were shorted by them.

Buy above 11816 Tgt 11857,11896 and 11951 (Nifty Spot Levels)

Sell below 11680 Tgt 11656,11633 and 11610 (Nifty Spot Levels)