Nifty Bulls close above time cycle high of 10155,EOD Analysis

By | March 22, 2018

  • FII’s sold 16.6 K contract of Index Future worth 1291 cores ,6 K Long contract were covered by FII’s and 10.6 K Short contracts were added by FII’s. Net Open Interest increased  by 4.6 K contract, so rise in market was used by FII’s to exit long and enter short in  Index futures.  FII’s Long to Short Ratio at 0.68 .Why Do Traders Overtrade?

 

  • As Discussed in Last Analysis  Till we are holding range of 10012-10050 bulls can see relief rally towards 10250/10410 as we are near gann angle support and also forming Bullish Butterfly pattern.Bullish above 10155 for a move towards 10230/10333/10410.  Break of 10000 on closing basis can see fast fall towards 9920/9850. Nifty opened with gap up did high of 10227 near our target of 10230,and close above 10155. Bulls till holding 10155 on closing basis can see rally towards 10230/10300/10410. Bearish below 10050 for a move towards 10000/9920 Important intraday time for reversal can be at 10:45/1:57. Bank Nifty bulls holding 24250,EOD Analysis

 

 

  • Nifty March Future Open Interest Volume is at 2.29 core with liquidation of 1.8 Lakh with decrease in  cost of carry suggesting long position were closed today, NF Rollover cost @10395 closed below it.
  • Total Future & Option trading volume at 8.14 Lakh core with total contract traded at 1.73 lakh , PCR @0.90
  • 10500 CE  is having Highest OI  at 61.1 Lakh, resistance at 10300 followed by 10400 .10000-10600 CE liquidated 12.6 in OI so bears covered  position  in range of 10400-10300. FII bought 6 K CE and 1.9 K shorted  CE were covered by them. Retail sold 9.9 K CE and 7.3 K CE were shorted  by them.

 

  • 10000 PE [email protected] lakhs having the highest OI strong support at 10100 followed by 10000 . 10000-10500 PE liquidated 10 Lakh in OI so bulls covered major position in 10200-10300 PE. FII bought 2.8 K PE and 6.6 K  PE were shorted by them. Retail bought 24.2 K PE and 14.9 K PE were shorted  by them.

 

  • FII’s bought 98 cores  and DII’s bought 197 cores in cash segment.INR closed at 65.20

 

Buy above 10180 Tgt 10210,10230 and 10250 (Nifty Spot Levels)

Sell below 10130 Tgt 10115,10080 and 10050 (Nifty Spot Levels)

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