Nifty Bulls continue to head higher holding 10530,EOD Analysis

By | April 18, 2018

  • FII’s bought 3.4 K contract of Index Future worth 236 cores ,6.7 K Long contract were added by FII’s and 3.2 K Short contracts were added by FII’s. Net Open Interest increased  by 9.9 K contract, so rise in market was used by FII’s to enter long and enter short in  Index futures.  FII’s Long to Short Ratio at 0.40 .Trading Resolution for Financial Year 2018-19

 

  • As Discussed in Last Analysis  Nifty Anniversary Date 12 April low was 10395, Low made today 10396 and we are up 120  points today. Price moved from 1 gann angle to another gann angle. Bulls need a close above 10530 for the next move towards 10570/10610/10666. Bearish below 10450 for a move back towards 10395/10330. Nifty continue to close above 10530 and did 10560 today and should do our target of 10570. Bulls now need a close above 10570 for the up move to continue towards 10610/10666. We are in strong supply zone and we have been rising for 9 days so trade cautiously in this range, Bearish below 10490 for a move back towards 10450/10410. Important intraday time for reversal can be at 1:54  Bank Nifty bulls does 25400 Holding Gann Angle,EOD Analysis

 

  • Nifty April Future Open Interest Volume is at 2.61 core with addition of 4.1 Lakh with decrease in  cost of carry suggesting long position were added today, NF Rollover cost @10156 closed above it.
  • Total Future & Option trading volume at 5.87 Lakh core with total contract traded at 0.97 lakh , PCR @1.15
  • 10700 CE  is having Highest OI  at 46 Lakh, resistance at 10600 followed by 10700 .10200-10700 CE liquidated 2  lakh in OI so bears covered  position  in range of 10300-10400. FII bought 3.7 K CE and 241 CE were shorted  by them. Retail bought 27 K CE and 23.9 K CE  were shorted by them.

 

  • 10300 PE OI@49.6  lakhs having the highest OI strong support at 10300 followed by 10100 . 10000-10500 PE liquidated 8.6 Lakh in OI so bulls covered added position in 10200-10300 PE. FII bought 6.6 K PE and 3.9 K PE were shorted by them. Retail bought 11.8 K PE and 21K PE were shorted  by them.

 

  • FII’s sold 951 cores  and DII’s bought 723 cores in cash segment.INR closed at 65.64

 

Buy above 10575 Tgt 10599,10620 and 10640 (Nifty Spot Levels)

Sell below 10530 Tgt 10510,10480 and 10450 (Nifty Spot Levels)

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