FII’s bought 2.3 K contract of Index Future worth 154 cores ,8.6 K Long contract were added by FII’s and 6.3 K short contracts were added by FII’s. Net Open Interest increased by 15 K contract, so rally today in Nifty market was used by FII’s to enter majority long and enter shorts in Index futures.Trade Psychology Rules to Follow
Nifty closed above the supply zone of 7512 and now heading towards the next zone of 7554, close above 7554 will signal move towards 7600/7634. Zone of 7554-7634 is very crucial. Support is in range 7400-7380. Bank Nifty Bulls again hold 15136 ,EOD Analysis
Nifty March Future Open Interest Volume is at 2.25 core with liquidation of 4.1 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 63.8 lakh , wall of resistance @ 7500 .7000/7500 CE liquidated 4.3 lakh so bears ran for cover in 7200/7300 CE .FII bought 14.4 K CE longs and 450 CE were shorted by them .Retail bought 19.5 K CE contracts and 10.1 K CE were shorted by them.
7000 PE OI@64.1 lakhs having the highest OI strong support at 7000 . 7000/7400 PE added 5.2 lakh so bulls trying to form a based around 7100/7200.FII bought 10.1 K PE longs and 10.1 K shorted PE were by them .Retail bought 3.5 K PE contracts and 6.3 K PE were shorted by them.
FII’s bought 462 cores in Equity and DII’s sold 823 cores in cash segment.INR closed at 67.21