FII’s bought 2 K contract of Index Future worth 147 cores ,9.3 K Long contract were added by FII’s and 7.3 K short contracts were added by FII’s. Net Open Interest increased by 16.7 K contract, so rally in market was used by FII’s to enter long and enter shorts in Index futures.A story that can change your life
As discussed in last analysiswe need a close above 7512 for move towards 7556/7601. Support in range of 7360/7380 range. Do remember overbought market can remain overbought for prolonged period of time, Just market is overbought does not mean go and short it. Nifty opened gap up made high of 7506 near supply zone of 7512, Most of supply zone are getting crossed by gaps so do not be surprised if we get another gap up on Tuesday as Monday being trading holiday. Bank Nifty struggling in gann arc,EOD Analysis
Nifty March Future Open Interest Volume is at 2.22 core with addition of 8.9 Lakh with increase in cost of carry suggesting long position were added today, NF closed above Rollover cost @7147. Nifty rallied 300 points above Rollover cost
7500 CE OI at 58.4 lakh , wall of resistance @ 7500 .7000/7500 CE liquidated 0.28 lakh so bears ran for cover in 7100/7200 CE .FII bought 0.08 K CE longs and 13.1 K CE were shorted by them .Retail bought 20.3 K CE contracts and 19.8 K CE were shorted by them.
7000 PE OI@70.9 lakhs having the highest OI strong support at 7000 . 7000/7400 PE added 14 lakh so bulls trying to form a based around 7100/7200.FII bought 11.9 K PE longs and 4.2 K PE shorted were by them .Retail bought 23.2 K PE contracts and 15.8 K PE were shorted by them. Retailers buying PE and getting whipped everyday.
FII’s bought 671 cores in Equity and DII’s sold 533 cores in cash segment.INR closed at 67.07