FII FnO Data Analysis for 15 march RBI Meet day
Below is my Interpretation of FII OI data Sheet for 14-Mar-12.
1. FII bought 31871 Contracts of NF worth 870 cores OI also increasing by 13041 contracts.
2. As Nifty Futures was up by 38 points and OI has increased by 13041 contracts means after 2 days of profit booking institutions are back on buying side and fresh longs were formed in market before the crucial RBI meet.
3. Today we Opened with a Gap of 60 Points and the gaps could not be sustained as we have discussed in our Facebook page One of Scenario which might occurs looking at current trading pattern Nifty will consolidate 5500-5550 till Inflation data comes than once data is announced go to fill gap or Trend Deciding Level of 5454 and than show a rally and Nifty obliged us today.
4. Bull Market dips on bad news are used to buying trading pattern today was a classical example With news of WPI inflation data coming at 6.95% was the excuse market took to start the gap filling process and it made a low of 5438 just 9 points short of gap bottom.
5. Nifty after today’s close has conquered the Golden Ratio 61.8% with a close above 5454
Next target comes at 5535 close above this we can consider the correction is over and Swing high of 5630 will be breached.
6. Nifty made new monthly high of 5499 today move above this level tomorrow will provide additional booster to bulls.Will RBI oblige the Nifty bulls?
7. Nifty March OI has increased by 6.6 lakh .Total OI stands at 2.57 cores contracts.Fresh longs were added in Nifty Futures.
8.Total F&O turnover was 1.04 Lakh Cores with total contract traded at 300704 .
9. In equity FII bought 1659 cores DII sold 857 cores. We are rising with Tide and njoy the longs till the music lasts.Volumes in cash segments were decent and it give additional confirmation buying is happening at lower levels
10. 5600 CE is having highest OI of 56 Lakhs with negligible additions,Call Writers are not writing the calls. This can be taken the first indication that 5600 is going to break. 5200 PE having highest OI of 88 lakhs with addition of 9 lakhs. 5200 seems to be a firm base.
11. From Yesterday analysis we got a clue 5400 will be finally conquered with less Call written and more 5400 PE saw an addition. Keep an eye on 5600 PE as OI is only 14 lakhs and premium being 155. Now if 5600 needs to be conquered this OI has to increase.
12. Nifty Futures Trend Deciding level is 5498 at Trend Changer at 5386 NF (Above this Level Bulls will rule Nifty).
Buy above 5483 Tgt 5500,5534 and 5555
Sell below 5458 Tgt 5428,5405 and 5392 (Nifty Spot Levels)
Let me go by Disclaimer these are my persnal views and trade taken on these observation should be traded with strict Sl
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