FII’s bought 25 K contract of Index Future worth 1188 cores ,20.3 K Long contract were added by FII’s and 5.1 K short contracts were liquidated by FII’s. Net Open Interest increased by 15.1 K contract, so rally in market was used by FII’s to enter long and exit shorts in Index futures.Are you Loss Making Trader?
As discussed in last analysis Now close above 7250 is required for next move till 7317/7460. Support in range of 7150-7170, 6830 is important gann support and combined with gann time lead to lethal move Nifty rallying highest in past 7 years in absolute terms. Nifty is now trading in top gear trading from gap to gap, Now as we have closed above 7350, close above 7406 is required for the next target of 7600 as per Alternate BAT pattern and supply demand analysis. Strong support at 7250-7280 zone. Many traders have called me and told we made very good money and want to share some of their Profits with me, My request to all traders who get benefited with analysis is to donate part of profits to poor and needy. Please accept my apologies on delay in updating analysis as i get lot of call and sms, why not updated in night, got stuck with some work will try to updated before Bank Nifty reacts furiously after crossing gann trendline,EOD Analysis
Nifty March Future Open Interest Volume is at 1.99 core with addition of 13.6 Lakh with decrease in cost of carry suggesting short position were added today, NF closed above Rollover cost @7147. Nifty rallied 200 points above Rollover cost
7500 CE OI at 50.2 lakh , wall of resistance @ 7500 .7100/7500 CE liquidated 14 lakh so bears ran for cover in 7100/7200 CE .FII bought 60 K CE longs and 5 K shorted CE were covered by them .Retail sold 42 K CE contracts and 29.5 K CE were shorted by them.
7000 PE OI@66 lakhs having the highest OI strong support at 7000 . 7000/7400 PE added 43 lakh so bulls trying to form a based around 7000/7100.FII bought 41.4 K PE longs and 27.4 K PE shorted were by them .Retail bought 46.8 K PE contracts and 15 K PE were shorted by them.
FII’s bought 1437 cores in Equity and DII’s bought 593 cores in cash segment.INR closed at 67.54