Nifty respects Technical Analysis to perfection
On May 13, we highlighted chart set up which indicated Nifty near possible support zone.
On May 17 morning, we highlighted F&O trade data analysis which increased our confidence to stay Long....
Now results of doing our homework is in front of you...
- Charts helped us identify important levels where trading decisions can be taken beforehand and
- F&O data analysis gave us the confidence while in the trade...
Do not ignore the importance of studies.
View Going forward...
Nifty rallied 417 points, however Open Interest has gone down. Let us breakdown the data and dig deeper for better understanding.
F&O trade data analysis
Futures
- Retail traders squared off 13.16K Long position and squared off 5.59K Short position
- FIIs squared off 1.29K Long contracts and squared off 13.91K Short contracts
- Proprietary traders added 4.47K Long contracts and added 7.21K Short contracts
Call Option
- Retail traders squared off 3.53 Lakh Call Long contracts and squared off 1.68 Lakh Call Short contracts
- FIIs added 35.82K Call Long contracts and squared off 16.40K Call Short position
- Proprietary traders squared off 6.54K Call Long contracts and squared off 1.39 Lakh Call Short contracts
Put Option
- Retail traders added 9.13 Lakh Put Long contracts and added 7.06 Lakh Put Short contracts
- FIIs added 48 K Put Long contracts and added 80.46K Call Short position
- Proprietary traders added 1.56 K Put Long contracts and added 3.32 Lakh Put Short contracts
Retail participants have bought Puts aggressively for protection.
FIIs have been covering their Short positions for the last 3 days.
Pro traders have been Net Short sellers in Index Futures however in Options they look likely to have hedged their overall positions through Options.
View: We might see a consolidation phase now...
Going forward important levels for Nifty on the lower side 16168 / 16030 / 15960 / 15860 / 15680
On the upper side 16320 / 16422 / 16505 / 16800 / 17218 are important resistance levels to watch out for
Take care & safe trading...!!!
Like & Follow!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
On May 17 morning, we highlighted F&O trade data analysis which increased our confidence to stay Long....
Now results of doing our homework is in front of you...
- Charts helped us identify important levels where trading decisions can be taken beforehand and
- F&O data analysis gave us the confidence while in the trade...
Do not ignore the importance of studies.
View Going forward...
Nifty rallied 417 points, however Open Interest has gone down. Let us breakdown the data and dig deeper for better understanding.
F&O trade data analysis
Futures
- Retail traders squared off 13.16K Long position and squared off 5.59K Short position
- FIIs squared off 1.29K Long contracts and squared off 13.91K Short contracts
- Proprietary traders added 4.47K Long contracts and added 7.21K Short contracts
Call Option
- Retail traders squared off 3.53 Lakh Call Long contracts and squared off 1.68 Lakh Call Short contracts
- FIIs added 35.82K Call Long contracts and squared off 16.40K Call Short position
- Proprietary traders squared off 6.54K Call Long contracts and squared off 1.39 Lakh Call Short contracts
Put Option
- Retail traders added 9.13 Lakh Put Long contracts and added 7.06 Lakh Put Short contracts
- FIIs added 48 K Put Long contracts and added 80.46K Call Short position
- Proprietary traders added 1.56 K Put Long contracts and added 3.32 Lakh Put Short contracts
Retail participants have bought Puts aggressively for protection.
FIIs have been covering their Short positions for the last 3 days.
Pro traders have been Net Short sellers in Index Futures however in Options they look likely to have hedged their overall positions through Options.
View: We might see a consolidation phase now...
Going forward important levels for Nifty on the lower side 16168 / 16030 / 15960 / 15860 / 15680
On the upper side 16320 / 16422 / 16505 / 16800 / 17218 are important resistance levels to watch out for
Take care & safe trading...!!!
Like & Follow!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
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