- FII’s bought 14.2 K contract of Index Future worth 1053 cores ,8.5 K Long contract were added by FII’s and 3.2 K Short contracts were added by FII’s. Net Open Interest increased by 14.2 K contract, so fall in market was used by FII’s to enter long and enter short in Index futures. Trade Outside Your Comfort Zone
- As discussed in last analysis Nifty has taken support near gann arc and also near the gann angles and closed near 9130 levels,suggesting if 9100 level is held we can see upmove towards 9200/9250. Bearish below 9100 for a move towards 9040/9000. As per time analysis next 2 days we can see trending day. Low made today was 9087 and we recovered and close above 9100 and near gann angle. Break of 9087 we can see down move till 9034. 9034-9030 is important support zone, Bearish below 9000 only. Bullish above 9150 for a move towards 9212/9268. Nifty gave the big move we were expecting as per time cycle but it happened in gap down most of the trades missed the move. Range of 9030-9036 proved to be strong resistance as 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. Another important aspect of this correction is Nifty for the first time in the whole upmove from 7894 has corrected more than 135 points, current correction is of 200 points suggesting the rally is coming to an end and we can see trend change from consolidation to bearish bias once we see a Weekly close below 9000. Bank Nifty break the gann angle with gap down,EOD Analysis
- Nifty March Future Open Interest Volume is at 2.61 core with addition of 3.2 Lakh with decrease in cost of carry suggesting short position were added today, NF Rollover cost @8925 closed above it before election results and rewarded big time.
- Total Future & Option trading volume at 5.1 Lakh core with total contract traded at 1.42 lakh , PCR @0.80
- 9200 CE is having Highest OI at 64.2 lakh, resistance at 9100 followed by 9200 .8800-9500 CE added 2.3 Lakh in OI so bears building wall of resistance at 9200-9220 zone.FII sold 10 K CE longs and 7.6 K CE were shorted by them .Retail bought 113 K CE contracts and 33.6 K CE were shorted by them.
- 8900 PE OI@54.2 lakhs having the highest OI strong support at 8900 followed by 8800. 8800-9500 PE liquidated 21.2 Lakh in OI so bulls covered in 9100 PE. FII bought 28.8 K PE and 4.6 K PE were shorted by them .Retail sold 32.3 K PE contracts and 4.2 K PE were shorted by them.
- FII’s bought 356 cores in Equity and DII’s sold 779 cores in cash segment.INR closed at 65.45
- Nifty Futures Trend Deciding level is 9073 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 9020. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 9050 Tgt 9065,9090 and 9116 (Nifty Spot Levels)
Sell below 9005 Tgt 8986,8969 and 8940 (Nifty Spot Levels)
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