Nifty & Derivative Data Analysis for 3rd May

  • FII’s sold 23659 contracts of index futures worth of 1340 crores and net OI decreased by 8567 contracts, Longs are liquidating.
  • FII’s sold 94.6 crores of index option and 409 crores stock futures and they bought 6crores of stock options.
  • In cash market FII’s sold 434.93 crores value of shares and DII’s sold 109.56 crores value of shares.
  • Nifty 7900 CE OI is at 30.40 lakh with addition of 4.35 lakh OI, 8000 CE OI is at 42.86 lakh with addition of 7.89 lakh OI. 7900 is the strong resistance for the nifty.
  • 7800 PE OI is at 36.65 lakh with addition of 8 k OI, 7700 PE OI is at 39.71 lakh with liquidation of 2.73 lakh OI.
  • Nifty futures closed at 7840 (-0.7%) and OI is at 1.98 crore with liquidation of 8 k.
Market ended in the red on Monday closing below the 200-DMA. Nifty closed with a loss of 44 points at 7806. The  Nifty opened at 7823 hitting a high of 7830 and low of 7777. Today nifty touched support level and bounced, tomorrow we need to watch 7780, if nifty breaks this level then we can see target 7720. If holds it can retry to test 200 dma.

Nifty Spot Trading Levels        
The recommendations made here is not an offer to sell or a solicitation to buy any of the securities mentioned. Trading involves considerable risk. Trade at your own risk to the extent you are comfortable. The analyst shall not be responsible for any losses incurred for acting on these recommendations. Calls are based only on technical studies. Stop-loss is an essential risk control mechanism; it should always be there. 
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