Nifty ready for a dead cat bounce,EOD Analysis

By | March 7, 2018

  • FII’s bought 2.6 K contract of Index Future worth 377 cores ,13.5 K Long contract were added by FII’s and 10.8 K Short contracts were added by FII’s. Net Open Interest increased  by 24.3 K contract, so fall in market was used by FII’s to enter long and enter short in  Index futures.  FII’s Long to Short Ratio at 0.88 .Trading Capital Required For New Traders

 

  • As Discussed in Last Analysis   Intraday time for reversal @2:34 also gave us clue as Nifty made high exactly at2:35 and saw the big decline as shown in 2 chart. We did first target of 10270 and hopefully will do next target of 10190 today. Bulls should protect 10160-70 range in coming days of same we can see fast decline towards 10100/10015. Nifty does 10190 thus achieving all our target one time cycle low of 10323 was broken, so we were able to capture fall of 190 points in 2 days. Close made today was 10154 so bulls  were not able to protect 10160 range. Also Nifty is near 200 DMA @10131 Nifty generally shows a small bounce from 200 DMA as per historical data. Bearish below 10100 for a fall towards 10020/9980. Bullish above 10180 for a small bounce towards 10230/10270. Important intraday time for reversal can be at 1:37.  Bank Nifty corrects 300 points on break of time cycle Low

 

  • Nifty March Future Open Interest Volume is at 2.37 core with liquidation of 5 Lakh with increase in  cost of carry suggesting short position were closed today, NF Rollover cost @10395 closed below it.
  • Total Future & Option trading volume at 8.70 Lakh core with total contract traded at 1.98 lakh , PCR @0.72
  • 10400 CE  is having Highest OI  at 38.8 Lakh, resistance at 10400 followed by 10500 .10000-10600 CE added huge 43  Lakh in OI so bears added position  in range of 10400-10500. FII sold 5.1 K CE and 9.5 K CE were shorted  by them. Retail bought 104 K CE and 63.2 K CE were shorted by them.

 

  • 10000 PE OI@37.4 lakhs having the highest OI strong support at 10000 followed by 10100 . 10000-10700 PE liquidated 4.4 Lakh in OI so bulls covered major position in 10300-10400 PE. FII bought 7.5 K PE and 1.7 K PE were shorted by them. Retail bought 33 K PE and 32 K PE were shorted by them.

 

  • FII’s bought 620 cores  and DII’s sold 735 cores in cash segment.INR closed at 64.89

 

Buy above 10180 Tgt 10200,10220 and 10243 (Nifty Spot Levels)

Sell below 10130 Tgt 10115,10088 and 10055 (Nifty Spot Levels)

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