Nifty ready for big move as we approach time cycle confluence

By | March 3, 2018

  • FII’s sold 8.6 K contract of Index Future worth 667 cores ,5 K Long contract were liquidated by FII’s and 3.6 Short contracts were added by FII’s. Net Open Interest decreased  by 1.3 K contract, so fall in market was used by FII’s to exit long and enter short in  Index futures.  FII’s Long to Short Ratio at 0.97 .Job description of a Trader

 

  • As Discussed in Last Analysis  Nifty made high of 10535 but failed to give weekly close above 10521 which suggests trend has changed to Sell on rise till we do not see close above 10521 on Weekly basis as March is a long expiry.Bulls need a close above 10512 for a move towards 10556/10610/10666. Bearish below 10430 for a move towards 10368/10320/10276.  Confluence of important time cycle date is coming on 02-04 March. Bulls need a close above 10470 for a move towards 10512/10556/10610/10666. Bearish below 10430 for a move towards 10368/10320/10276.  Confluence of important time cycle date is coming on 02-04 March.  Important intraday time for reversal can be at 12:05.  Bank Nifty analysis as we approach monthly closing

 

  • Nifty March Future Open Interest Volume is at 2.24 core with addition of 11 Lakh with decrease in  cost of carry suggesting short position were added today, NF Rollover cost @10395.
  • Total Future & Option trading volume at 13.18 Lakh core with total contract traded at 1.28 lakh , PCR @0.81
  • 10700 CE  is having Highest OI  at 36.8 Lakh, resistance at 10700 followed by 10900 .10000-10700 CE added 7.5 Lakh in OI so bears added position  in range of 10600-10800. FII bought 8.1 K CE and 4.9 K CE were shorted  by them. Retail sold 68.9 K CE and 64.7 K CE were shorted by them.

 

  • 10400 PE OI@37.2 lakhs having the highest OI strong support at 10400 followed by 10300 . 10300-10700 PE added 0.95 Lakh in OI so bulls added major position in 10300-10400 PE. FII sold 5 K PE and 892 shorted PE were covered by them. Retail sold 87.2 K PE and 59.8 K shorted PE were covered  by them.

 

  • FII’s bought 241.85 cores  and DII’s sold  3 cores in cash segment.INR closed at 65.16

 

Buy above 10450 Tgt 10475,10500 and 10531 (Nifty Spot Levels)

Sell below 10424 Tgt 10401,10370 and 10350 (Nifty Spot Levels)

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