FII’s bought 13.3 K contract of Index Future worth 668 cores ,0.8 K Long contract were liquidated by FII’s and 14.1 K short contracts were liquidated by FII’s. Net Open Interest decreased by 14.9 K contract, so Budget day rally/fall in market was used by FII’s to exit long and exit shorts in Index futures.Impact of the Union Budget on the Indian Stock Market
As discussed in last analysis.As we have Budget on Monday move above 7058 will see quick move towards 7141/7252. On Downside break of 6930 can see move towards 6860/6830. Nifty moved above 7058 but unable to do target of 7141/7252, but downside break of 7930 did target of 6860/6830, Low made was 6825 :). We can see another big move today, levels remains the same close above 7058 Move towards 7141/7252 Bank Nifty bounces from gann support on Budget day,EOD Analysis
Nifty March Future Open Interest Volume is at 1.80 core with liquidation of 4.4 Lakh with decrease in cost of carry suggesting long position were closed today, Rollover stands at 54 % and Rollover cost @7179.
7500 CE OI at 51 lakh , wall of resistance @ 7500 .7000/7300 PE added 26 lakh so bears added aggressively above 7200 .FII bought 27.6 K CE longs and 34.5 K CE were shorted by them .Retail bought 67.8 K CE contracts and 25.2 K CE were shorted by them.
7000 PE OI@49 lakhs having the highest OI strong support at 7000 . 7000/6800 PE added 13 lakh so bulls trying to form a based around 7000.FII bought 15.5 K PE longs and 5.7 K PE were shorted by them .Retail bought 28.4 K PE contracts and 39 K PE were shorted by them.
FII’s sold 2018 cores in Equity and DII’s bought 1445 cores in cash segment.INR closed at 68.41