Nifty & Derivative Data Analysis for 4th May

  • FII’s sold 16289 contracts of index futures worth of 984 crores and net OI decreased by 12291 contracts.
  • FII’s bought 437 crores of index option and 14 crores stock options and they sold 401 crores of stock futures.
  • In cash market FII’s sold 755.28 crores value of shares and DII’s bought 484.64 crores value of shares.
  • Nifty 7900 CE OI is at 37.36 lakh with addition of 6.95 lakh OI, 7800 CE OI is at 25.14 lakh with addition of 4.36 lakh OI. 7900 is the strong resistance for the nifty.
  • 7600 PE OI is at 30.12 lakh with addition of 3.18 k OI, 7700 PE OI is at 44.67 lakh with addition of 4.96 lakh OI. Now we need to watch 7700 on the downside.
  • Nifty futures closed at 7783.8 (-0.7%) and OI is at 1.97 crore with liquidation of 17 k.

Nifty closed with a loss of 59 points at 7747. The Nifty opened at 7825 hitting a high of 7890 and low of 7735. In our previous analysis we mentioned the support level of 7780 and downside target 7720, and nifty made a low of 7735 almost near to our target level. At this time nifty looks week, we see more selling pressure and we expecting the target 4680.

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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