Nifty @ life highs, FII Data Analysis

By | April 9, 2014

FII_1

  • FII’s bought 3667 contract of Index Futures worth 120 cores (6.7 K longs were added and 3 K shorts were added  Index Future) with net OI increasing by 9.8K contracts. So today’s rise was backed by short covering.
  • Nifty after dipping till 6650 bounced back fiercely today and made a new life high at 6808. Today rise was backed by bank nifty as it rallied almost 4%. Nifty now should hold 6765 for further upside move, unable to do so we can see pullback till 6700.

nifty daily

  • Nifty Future April Open Interest Volume is at 1.74 cores with addition of 7.2  lakhs in Open Interest, OI is back to bullish,but closer look at FII OI which has increased by 3.3 K with a nifty move of 106 points suggesting FII’s are not outright bullish as it seems. VIX is also entering supply zone suggesting we can see pullback in VIX which will lead to reduction in Nifty premium and CE premium will come down and PE premium will jump.

VIX

  • Total Future & Option trading volume at 1.55 lakh with total contract traded at 2.2 lakh , PCR (Put to Call Ratio) at 1.09.
  • 7000 Nifty CE  is having highest OI at 36.5 lakhs , resistance for the market, 6800 CE  with OI at 34.5 Lakhs,saw very minor liquidation of 2.9 lakhs suggesting Bears are still holding 6800 CE and we can see cool off near to 6800 odd levels. Call Options are not having high OI suggesting bears are on back foot. FII’s bought 6.8 K CE longs and 16.7 K CE shorts were covered  by them.6300-7000 CE liquidated 15.4 lakhs.
  • 6700 PE   is having highest OI at  59.5 lakh with addition of 10.8 lakhs remains a strong support for the series, 6800 PE  saw  a huge addition of 13 lakhs in OI show overconfident bulls , need to remain caution at higher levels. 6300-7000 PE added 4.7  lakhs.FII’s bought 11.8 K PE longs and 6.8 K PE shorts were covered  taken by them.

OI

  • FIIs bought 1043 cores in Equity and DII sold 464 cores in cash segment.INR closed above 60.12

Buy above 6810 Tgt 6830,6874 and 6901 (Nifty Spot Levels)

Sell below 6770 Tgt 6731 6710 and 6690(Nifty Spot Levels)

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