Nifty does 9130 Holding 9030,EOD Analysis

By | March 25, 2017

  • FII’s sold 3.9 K contract of Index Future worth 316 cores ,4.3 K Long contract were liquidated by FII’s and 345 Short contracts were liquidated by FII’s. Net Open Interest decreased  by 4.6 K contract, so rise in market was used by FII’s to exit long and exit short in  Index futures. Successful traders have a lot to learn from sportsmen
  • As discussed in last analysis  Nifty closed at 9030 and was holding on to range of 9036 for most part of the day. Bulls should keep eye on 9040 close above it back to 9100-9130 range. Bearish below 9000 for a move till 8969-8920. Low made today was 9048 so yesterday Nifty held on to 9030 and bounced back from 1 gann angle to another one. Now Nifty trading above 9100 will be very bullish and we can see move towards 9174/9220. Bearish only below 9000. Nifty did high of 9133 so we did the target of 9130 as shown in below chart. Now bulls need close above 9130 for a move towards 9174/9216. Bearish below 9070 for a move towards 9020/8968.  Will Bank Nifty give Weekly close above 21000,EOD Analysis

  • Nifty March Future Open Interest Volume is at 2.57 core with Liquidation of 4.3 Lakh with decrease in cost of carry suggesting Long position were closed today, NF Rollover cost @8925 closed above it before election results and rewarded big time.
  • Total Future & Option trading volume at 3.8 Lakh core with total contract traded at 0.93 lakh , PCR @1.08
  • 9200  CE  is having Highest OI  at 66.4 lakh, resistance at 9200 followed by 9250 .8800-9500 CE added 1.5 Lakh in OI so bears added in9100-9200 CE.FII sold 1.7 K CE longs and 4.1 K CE were shorted by them.Retail bought 24.9 K CE contracts and 17.2 K CE were shorted by them.
  • 8800 PE OI@54  lakhs having the highest OI strong support at 8800 followed by 8900. 8800-9500 PE added 5.4Lakh in OI so bulls added in 9000-9100 PE. FII bought 20.8 K PE and 24.1 K PE were shorted by them  .Retail bought 20.8 K PE contracts and 24.1 K PE were shorted by them.
  • FII’s bought 543 cores in Equity and DII’s bought 116 cores in cash segment.INR closed at 65.41

Buy above 9132 Tgt 9155,9174 and 9210 (Nifty Spot Levels)

Sell below 9085 Tgt 9065,9044 and 9018 (Nifty Spot Levels)

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One thought on “Nifty does 9130 Holding 9030,EOD Analysis

  1. sudhakar

    Hello Ramesh
    Any views or comments on how the market would react to “Sebi bans Reliance Industries” news?
    Thanks
    Sudhakar

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