FII’s sold 0.08 K contract of Index Future worth 28 cores ,6.5 K Long contract were liquidated by FII’s and 5.6 K short contracts were liquidated by FII’s. Net Open Interest decreased by 12 K contract, so fall today in Nifty market was used by FII’s to exit long and exit shorts in Index futures.Critical Skills for Trading in Stock Market
Nifty was unable to do a follow upmove on close above 7512, Today made high of 7547 which was near the supply zone of 7554. We have weekly closing tomorrow bulls will like to close above 7512/7554 and bears below 7400. Today we had an exact correction of 100 points as i have discussed before, correction of more than 100 points willl suggests trend has turned neutral to bearish. close above 7554 will signal move towards 7600/7634. Zone of 7554-7634 is very crucial. Support is in range 7400-7380. Will Bank Nifty Bull hold 15136, EOD Analysis
Nifty March Future Open Interest Volume is at 2.17 core with liquidation of 8.1 Lakh with decrease in cost of carry suggesting short position were closed today, NF closed above Rollover cost @7147. Nifty rallied 300 points above Rollover cost
7500 CE OI at 66.1 lakh , wall of resistance @ 7500 .7000/7500 CE added 1.5 lakh so bears added in 7400/7500 CE .FII bought 7.5 K CE longs and 12.3 K CE were shorted by them .Retail bought 40 K CE contracts and 22 K CE were shorted by them.
7000 PE OI@64.3 lakhs having the highest OI strong support at 7000 . 7000/7400 PE added 4.4 lakh so bulls trying to form a based around 7100/7200.FII bought 13.4 K PE longs and 2.3 K shorted PE were by them .Retail sold 12 K PE contracts and 441 shorted PE were covered by them.
FII’s bought 1063 cores in Equity and DII’s sold 598 cores in cash segment.INR closed at 67.07