Nifty bulls finally close above 10610, EOD Analysis

By | April 24, 2018

  • FII’s bought 4.1 K contract of Index Future worth 274 cores ,6.2 K Long contract were liquidated by FII’s and 10.4 K Short contracts were liquidated by FII’s. Net Open Interest decreased  by 16.7 K contract, so rise in market was used by FII’s to exit long and exit short in  Index futures.  FII’s Long to Short Ratio at 0.66 .Trading Resolution for Financial Year 2018-19

 

  • As Discussed in Last Analysis  Nifty did a range breakout above 10610 but failed to do our target of 10666 and gave a whipsaw as closed below 10610.Tommrow is an important astrological date so we can see good move in next 2 days. Fresh long should only be taken on close above 10610 for a move towards 10666/10750. Bearish below 10490 for a move back towards 10450/10390. Finally we close above 10610 and heading towards 10666/10730. Bearish below 10555 for a move back to 10500/10430. Important intraday time for reversal can be at 2:33. Bank Nifty does 25120 above 25000,EOD Analysis

 

  • Nifty April Future Open Interest Volume is at 2.17 core with liquidation of 34.9 Lakh with increase in  cost of carry suggesting short position were added today, NF Rollover cost @10156 closed above it.
  • Total Future & Option trading volume at 7.37 Lakh core with total contract traded at 1.31lakh , PCR @1.06
  • 10700 CE  is having Highest OI  at 44.9 Lakh, resistance at 10700 followed by 10600 .10200-10700 CE liquidated 23  lakh in OI so bears covered  position  in range of 10300-10400. FII sold 5 K CE and 10.6 K shorted  CE were covered  by them. Retail sold 157 CE and 3.2 K CE  were shorted by them.

 

  • 10500 PE OI@49.5 lakhs having the highest OI strong support at 10500 followed by 10400 . 10000-10500 PE liquidated 15.9 Lakh in OI so bulls covered position in 10200-10300 PE. FII bought 6.3 K PE and 17.3 K shorted PE were covered by them. Retail bought 1.5 K PE and 12.9 K PE were shorted  by them.

 

  • FII’s sold 680 cores  and DII’s bought 508 cores in cash segment.INR closed at 66.10

 

Buy above 10620 Tgt 10645,10666 and 10690 (Nifty Spot Levels)

Sell below 10600 Tgt 10575,10555 and 10530 (Nifty Spot Levels)

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