Nifty heading towards Life High after Historic Election Win

By | March 11, 2017

  • FII’s sold 8.9 K contract of Index Future worth 617 cores , 3.3 K Long contract were liquidated by FII’s and 5.5 K long contracts were added by FII’s. Net Open Interest increased  by 2.1 K contract, so rise in market was used by FII’s to exit long and enter short in  Index futures. How Kobe Bryant Made it to the Top
  • As discussed in last analysis  Nifty gave a good move today and today low is near the gann angle as shown in below chart. So Shorts can be taken below 8890 for a move towards 8850/8800/8757. Bullish above 8995 for a move towards 9033/9080 Exit Poll results will be coming out tomorrow 5:30 PM Low made today was 8899 and high made was 8946 so both bulls and bears were not able to break the range we mentioned. Plan remains the same short below 8890 gann angle support for a move towards 8850/8780/8720 and long above 8895 break gann angle for a move towards 9033/9080/9120 Nifty will open with huge gap on Monday and can hit a new life highs, but does it mean that we blindly go long, As a matter of fact on May 16 when BJP got majority in Lok Sabha we closed marginally in green after an upmove of more than 6%. Volatility will be the name of the game as we move in an uncharted territory above 9120. Levels to watch on Tuesday and next few days will be 9081/9212/9362/9468. Look at the open price and if nifty trades below open price than only traders should go short with 20 points sl. Traders having capital less than 10 lakhs should aviod trading on Tuesday and protect capital. Market will be there forever but your capital will be gone if you cannot handle big volatility.    Bank Nifty heading towards 21500 after Historic Election Win

  • Nifty March Future Open Interest Volume is at 2.33 core with addition of 5.9 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @8925 closed above it.
  • Total Future & Option trading volume at 2.60 Lakh core with total contract traded at 1.15 lakh , PCR @0.73
  • 9000  CE  is having Highest OI  at 65.6 lakh, resistance at 9000 followed by 8900 .8500-9000 CE added 145 Lakh in OI so bears added in 9000 CE and 9300 CE. So watch out for 9300 CE on Tuesday   .FII sold 6.6 K CE longs and 42.3 K CE were shorted by them .Retail bought 101 K CE contracts and 32.8 K  CE were shorted by them. Retailers were Highly Bullish on Mr Modi and will be rewarded by Market.
  • 8900 PE OI@45.8 lakhs having the highest OI strong support at 8900 followed by 8800. 8500-9000 PE  added 8.3  Lakh in OI so bulls added in 8900/9000 PE. FII bought 5.1 K PE and 10.6 K PE were shorted by them  .Retail bought 38.8 K PE contracts and 25.8 K PE were shorted by them.
  • FII’s bought 412 cores in Equity and DII’s sold 13 cores in cash segment.INR closed at 66.60

Buy above 9120 Tgt 9150,9185 and 9212 (Nifty Spot Levels)

Sell below 9080 Tgt 9055,9030 and 9000 (Nifty Spot Levels)

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