Nifty corrects 200 points, How to trade now ?

By | March 9, 2015

FII

  • FII’s sold 79.1 K contract of Index Future worth 1884 cores, 61.3 K Long contract were squared off by FII’s and 17.7 K  short contracts  were added by FII’s. Net Open Interest decreased  by 43.6 K contract.
  • Nifty saw the biggest fall in 2 months (Why Sensex Crashed 600 Points, Biggest Fall in 2 months) down 181 points and in the process broke its budget day low @8750 and closed well below its 20 SMA. On Hourly charts trendline support @ 8701/8720 range as shown in below chart and below that 8645/8630 range. As per gann box till 2X1 line is not crossed nifty will remaining under selling pressure.

nifty hourly

NIFTY - Gann Box

  • Nifty March Future Open Interest Volume is at 2.50 core with liquidation of 10 lakhs with decrease in cost of carry.Out of  36 Lakh Nifty OI  which was added in 9022-8916 , 27 lakh got liquidated in 3 session so 9 lakh are still holding out.
  • Total Future & Option trading volume was   at 2.48 core with total contract traded at 5.9 lakh. PCR @0.95.
  • 9000  CE  OI at 53.9 lakh  so wall of resistance @ 9000 .8700/8900 CE added 30.5 lakhs,  huge addition was seen today in as discussed in last analysis no liquidation was seen after today’s last hour rise suggesting bears are not panicking . FII sold 22.4 K CE longs and 7.6 K  CE were shorted by them.
  • 8500 PE OI@ 46.9  lakhs so strong base @ 8500. 8600/8900 PE  saw liquidation of 16.2 lakhs so the whole  17  lakh OI added in past 2 days have been covered. FII added 154 K PE longs and 13 K shorted  PE were covered by them.FII were mainly active in 8500/8600 PE.
  • FII’s bought 838 cores  in Equity and DII sold 35 cores in cash segment.INR closed at 62.55 at 2 month high.

 

Buy above 8796 Tgt 8820 ,8851 and 8891(Nifty Spot Levels)

Sell below 8740 Tgt 8720,8701 and 8680 (Nifty Spot Levels)

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11 thoughts on “Nifty corrects 200 points, How to trade now ?

  1. Bramesh Post author

    God is only 1 Mr Market.

    I am just a follower of market.

    Rgds,
    Bramesh

  2. Bramesh Post author

    Is there any thumb rule if FII’s buy market cannot fall?
    Trade on levels not on views.

    Rgds,
    Bramesh

  3. gopal

    Fiis bought 838 crores in equity..diis sold minute quantity..but nifty has fallen by 180 points..can u plz explain this bramesh

  4. Bramesh Post author

    Levels are updated please check..

  5. satish

    I think all figures should be subtracted by 200. Confirmation is needed by Bramesh.

  6. suraj

    hello your sell spot level targets wrong please corect the typo…thank you…

  7. vikas

    pls check your figure as you mentioned that sell below 8810..nifty already closed below 8810

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