Nifty Rallies 250 Points Above 11700

  • FII’s sold 6.8 K contract of Index Future worth 587 cores 5.8 K Long contract were added by FII’s and 12.7 K Short contracts were added by FII’s. Net Open Interest increased  by 18.6 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 1.01.
  • As Discussed in Last Analysis Nifty bounced above 11698 to achieve all our target on upside.26 May is important time cycle date so effect will be seen on Monday.  Nifty bulls need close above 11896 for a move towards 11939/12000.
  • 11939 done above 11896 , Nifty Bulls now need to hold 11896-11910 zone for the upmove to continue towards 12000/12041/12100. Bears will become active below 11810 for a move back to 11777/11721/11666/11610.

  • Nifty May Future Open Interest Volume is at 1.55 core with liquidation of 18.4 Lakh with  decrease in  cost of carry suggesting long position were closed today, NF Rollover cost @11742,closed above it.
  • Total Future & Option trading volume at 9.82 Lakh core with total contract traded at 1.44 lakh , PCR @0.99
  • 12000 CE  is having Highest OI  at 37.1 Lakh, resistance at 12000 followed by 12100 .11000-11800 CE added 6 Lakh in OI so bears added position in range of 11800-12000. FII bought 7.1 K CE and 10.6 K shorted  CE were covered by them. Retail bought 13.7 K CE and 19.7K CE were shorted by them.
  • 11700 PE OI@29.9Lakhs having the highest OI strong support at 11700 followed by 11600 . 11000-11700 PE added 20  Lakh in OI so bulls added huge position in range 11500-11600 .FII sold 930 PE and 1 K shorted PE were covered by them. Retail bought 103 K PE and 74.7K PE were shorted by them.

Buy above 11940  Tgt 11957,11994 and 12021 (Nifty Spot Levels)

Sell below 11906  Tgt 11885,11849 and 11830  (Nifty Spot Levels)