Nifty did 1 target of 9212 above 9120,EOD Analysis

By | March 18, 2017

  • FII’s sold 2.3 K contract of Index Future worth 137 cores , 2 K Long contract were liquidated  by FII’s and 323 long contracts were added by FII’s. Net Open Interest decreased  by 1.7 K contract, so rise in market was used by FII’s to exit long and enter short in  Index futures. The Black Belt Story
  • As discussed in last analysis  Nifty continue to trade around the gann angles as shown below and also formed the lowest range of last 2.5 years, market is in wait and watch mode before the outcome of fed event. Bullish above 9130 for a move towards 9212/9300. Bearish below 8975 for a move towards 8900/8850. Nifty finally closed above 9130 and gann angle as shown in below chart and range formed today 29 points in again the lowest range in past 2.5 years suggesting we should see fast follow upmove towards 9212/9268. Bearish only on close below 9000. Weekly close above 9130 will be good for bulls. Nifty did the 1 target of 9212 high made was 9218 and corrected. Now BUlls need to protect 9077 -9050 range for this upmove to continue towards 9300/9368. Bearish below 9000 only in between range trade continues.  Bank Nifty continue to trade in range,EOD Analysis

  • Nifty March Future Open Interest Volume is at 2.48 core with liquidate of 7.6 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @8925 closed above it before election results and rewarded big time.
  • Total Future & Option trading volume at 6.53 Lakh core with total contract traded at 1.11 lakh , PCR @0.89
  • 9200  CE  is having Highest OI  at 57.6 lakh, resistance at 9200 followed by 9500 .8800-9500 CE liquidated 3.6 Lakh in OI so bears were caught off guard and ran for cover .FII bought 7.5 K CE longs and 2.3 K shorted  CE were covered by them .Retail bought 23.3 K CE contracts and 28.1 K   CE were shorted  by them.
  • 8800 PE OI@60.3 lakhs having the highest OI strong support at 8900 followed by 8800. 8800-9500 PE  added 28 Lakh in OI so bulls added in 8900/9000/9100 PE. FII bought 9.2 K PE and 8.5 K PE were shorted by them  .Retail bought 35.8 K PE contracts and 18.1 K PE were shorted by them.
  • FII’s bought 1532 cores in Equity and DII’s sold 711 cores in cash segment.INR closed at 65.46

Buy above 9176 Tgt 9200,9225 and 9250 (Nifty Spot Levels)

Sell below 9130 Tgt 9105,9080 and 9060 (Nifty Spot Levels)

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One thought on “Nifty did 1 target of 9212 above 9120,EOD Analysis

  1. Kamlakar Mohite

    Sir, Please correct “and 323 long contracts were added by FII’s” as “323 Short contracts were added by FII’s”
    Thanks.

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