Nifty Ready For Big Move

  • FII’s sold 17.2 K contracts of Index Future worth 1479 cores, 4.5 K Long contracts were covered by FII’s and 12.6 K Short contracts were added by FII’s. Net Open Interest increased by 8.1 K contracts, so a rise in Nifty was used by FII’s to exit long and enter short positions in Index futures. FII’s Long to Short Ratio is measured at 2.36.  
  • As Discussed in Last Analysis Now Nifty bulls should hold at 11740, for this up move to continue towards 11800/11856. Bears need to move below 11721 for a move back to 11666/11610. 29 April is an important astro date, so effects will be seen on the 30th. 11666 went down below 11721. Now Bulls will get active above 11797 for a move back to 11856/11912. Bears need to move below 11721 for a move back to 11666/11610. A significant move should be seen in the next 2 days based on Astro Dates.

  • Nifty May Future Open Interest Volume is at 1.91 core with a liquidation of 3.9 Lakh, and with a decrease in cost of carry suggesting Long positions were to be closed today, NF Rollover cost @11742, closed above it.
  • Total Future & Option trading volume at 11.84 Lakh, core with total contracts traded at 1.06 lakh, PCR @0.84
  • 12000 CE is having its Highest OI at 11.9 Lakh, resistance at 11850, followed by 12000 .11000-11800 CE. Added 0.79 Lakh in OI, so bears added a position in the range of 11800-12000. FII bought 7.8 K CE and 8.7 K CE were shorted by them. Retail bought 167 K CE and 97.2 K CE were shorted by them.
  • 11500 PE OI@17.6 Lakhs having the highest OI strong support at 11500 followed by 11600. 11000-11600 PE added 4 Lakh in OI so bulls added a position in the range of 11500-11600. FII bought 20.5 K PE and 739 PE were shorted by them. Retail bought 8.3 K PE and 28.4K  PE were shorted by them.

Buy above 11766 Tgt 11780,11806 and 11834 (Nifty Spot Levels)

Sell below 11721 Tgt 11700,11666 and 11640 (Nifty Spot Levels)