- FII’s bought 13.5 K contract of Index Future worth 337 cores, 7.5 K Long contract were added by FII’s and 5.9 K short contracts were squared off by FII’s. Net Open Interest increased by 1.6 K contract.
- Nifty formed an inside bar pattern and continued with consolidation, Nifty made high of 8755, classical technical analysis at work with Budget day support becoming resistance now. On Hourly charts trendline support @ 8684/8690 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. Largest correction seen in the current bull market is 666 points so still we can go down further another 200 points. 50 SMA @8648 should be watched closely in next 2 trading session.As per time analysis Nifty should show trending move in next 2 sessions.
- Nifty March Future Open Interest Volume is at 2.49 core with addition of 0.98 lakhs with increase in cost of carry.
- Total Future & Option trading volume was at 2.06 core with total contract traded at 4.2,lakh. PCR @0.92.
- 9000 CE OI at 59.3 lakh so wall of resistance @ 9000 .8700/8900 CE added 7.1 lakhs, in addition to 36 Lakh in past 4 session, bears are in front foot real test will come in next 2 days. FII sold 17.1 K CE longs and 16.6 K CE were shorted by them.
- 8500 PE OI@ 46.6 lakhs so strong base @ 8500. 8600/8700 PE saw addition of 3.5 lakhs in addition to 7.5 lakh so bulls are warming up, but test will come in next 2 days. FII added 29.7 K PE longs and 10.4 K shorted PE were covered by them.
- FII’s sold 444 cores in Equity and DII sold 338 cores in cash segment.INR closed at 62.78.
- Nifty Futures Trend Deciding level is 8763 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8888 and BNF Trend Deciding Level 19182 (For Intraday Traders) BNF Trend Changer Level (Positional Traders) 19518 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 8713 Tgt 8742 ,8785 and 8816 (Nifty Spot Levels)
Sell below 8665 Tgt 8650,8620 and 8580 (Nifty Spot Levels)