Nifty & Derivative Data Analysis for 6th May

  • FII’s sold 16795 contracts of index futures worth of 993 crores and net OI decreased by 16123 contracts.
  • FII’s bought 1006 crores of index option and 102 crores stock futures and they sold 22 crores of stock options.
  • In cash market FII’s sold 388.51 crores value of shares and DII’s bought 251.79 crores value of shares.
  • Nifty 7900 CE OI is at 42.8 lakh with addition of 6.42 lakh OI, 7800 CE OI is at 36.36 lakh with addition of 2.52 lakh OI. Need watch 7800 in nifty.
  • 7600 PE OI is at 33.71 lakh with addition of 3.18 k OI, 7700 PE OI is at 43.73 lakh with addition of 3.15 lakh OI. 7700 is providing some support now.
  • Nifty futures closed at 7773 (0.5%) and OI is at 1.82 crore with liquidation of 9 lakh. Shorts are liquidating at this level.

Equity market snapped a three-day losing streak on Thursday amid a choppy trading session. Nifty closed with a gain of 29 points at 7,736. The NSE Nifty opened at 7731 hitting a high of 7778 and low of 7707. Now nifty taking support at 7000, it is the 61.8% retracement of rally from 7520 levels. There is no selling until breakdown of this level. On the upside 7800 is providing resistance so nifty needs to break this level for upside.

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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