Nifty react from supply zone,EOD Analysis

By | April 18, 2018

  • FII’s bought 27.8 K contract of Index Future worth 2319 cores ,18.6 K Long contract were added by FII’s and 9.1 K Short contracts were covered  by FII’s. Net Open Interest increased  by 9.5 K contract, so fall in market was used by FII’s to enter long and exit short in  Index futures.  FII’s Long to Short Ratio at 0.55 .Trading Resolution for Financial Year 2018-19

 

  • As Discussed in Last Analysis  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. As we told we are in strong supply zone and we saw the effect in matter of mins nifty gave in 50-70 points and also closed below 10530. 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. Range of 10500-600 is for scalpers.  Tomorrow is important time cycle date. Important intraday time for reversal can be at 1:04/2:03  Bank Nifty bear does 25050 below 25200,EOD Analysis

 

  • Nifty April Future Open Interest Volume is at 2.64 core with addition of 3.7Lakh with increase in  cost of carry suggesting long position were added today, NF Rollover cost @10156 closed above it.
  • Total Future & Option trading volume at 7.91 Lakh core with total contract traded at 1.17 lakh , PCR @1.03
  • 10700 CE  is having Highest OI  at 50 Lakh, resistance at 10600 followed by 10700 .10200-10700 CE added 9.3  lakh in OI so bears added position  in range of 10300-10400. FII sold 2.4 K CE and 2.3 K CE were shorted  by them. Retail bought 68.4 K CE and40.6 K CE  were shorted by them.

 

  • 10300 PE [email protected]  lakhs having the highest OI strong support at 10300 followed by 10100 . 10000-10500 PE added 8 Lakh in OI so bulls covered added position in 10200-10300 PE. FII bought 2.9 K PE and 4 K PE were shorted by them. Retail sold 1.2 K PE and 1K PE were shorted  by them.

 

  • FII’s sold 915 cores  and DII’s bought 869 cores in cash segment.INR closed at 65.66

 

Buy above 10545 Tgt 10577,10595 and 10620 (Nifty Spot Levels)

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

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