Nifty Opened with gap up and got resisted immediately at 8360; we had a strong resistance at 8355-60 zone for last few days. Moment 8308 broke, it went to test the earlier low at 8278. Yesterday after looking at EOD Open interest report, got a clue to sell on rise and today we had the perfect sell set up at open.
Last half an hour there was good short covering rally to bring Nifty back to 8300. 8300 PUT had strong support in this series, so writers made sure nifty closes above 8300. It closed at 8319. Broader market was weak with 633 advances to 819 Declines for the day.
From tomorrow (29th of May) June series will start with 800 point range 8000-8800. Open interest is still young, need at-least 3 days of trading to gauge the sense of writers interest.
INDIA VIX Range for this series -- 8714---7924
Since today is expiry, most of the contracts were covered by all the participants, hence will not look into FII/client OI today..
On general terms:
FII -- are holding net shorts in index Fut
DII -- are holding net shorts in index Fut
Clients -- are holding net longs in index Fut
PRO --are holding net longs in index Fut
happy trading
Last half an hour there was good short covering rally to bring Nifty back to 8300. 8300 PUT had strong support in this series, so writers made sure nifty closes above 8300. It closed at 8319. Broader market was weak with 633 advances to 819 Declines for the day.
From tomorrow (29th of May) June series will start with 800 point range 8000-8800. Open interest is still young, need at-least 3 days of trading to gauge the sense of writers interest.
INDIA VIX Range for this series -- 8714---7924
Since today is expiry, most of the contracts were covered by all the participants, hence will not look into FII/client OI today..
On general terms:
FII -- are holding net shorts in index Fut
DII -- are holding net shorts in index Fut
Clients -- are holding net longs in index Fut
PRO --are holding net longs in index Fut
happy trading
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