Nifty close above 11530,EOD Analysis

By | March 19, 2019

  • FII’s bought 4.1 K contract of Index Future worth 287 cores 9.1 K Long contract were added by FII’s and 5 K  Short contracts were added by FII’s. Net Open Interest increased  by 14.2 K contract, so rise in Nifty was used by FII’s to enter long and enter short in  Index futures.FII’s Long to Short Ratio at 1.72. Strong Emotions in Trading
  • As Discussed in Last Analysis  We saw the effect of Mercury Mars Conjunction as Nifty faced resistance at gann angle and also formed doji. Now Fresh long should be taken above 11530 for a move towards 11585/11666. Bears will get active below 10410 for a move for a move back to 10376/10320/10270. High made today was 11542 and close above 11530, Till Bulls are holding 11500 bulls can move towards 11585/11666. Bears will get active below 11410 for a move for a move back to 10376/10320/10270.

  • Nifty March Future Open Interest Volume is at 2.13 core with addition of 6.6Lakh with  increase in  cost of carry suggesting long position were added today, NF Rollover cost @10868 closed above it,rallied 620 points
  • 11500 CE  is having Highest OI  at 25.3 Lakh, resistance at 11500 followed by 11600 .10800-11500 CE liquidated 3.6 Lakh in OI so bears covered position in range of 11400-11500. FII bought 3.6 K CE and 2.7 K CE were shorted by them. Retail sold 304 CE and 16.6 K CE were shorted by them.
  • 11300 PE OI@ 23.6 Lakhs having the highest OI strong support at 11300 followed by 11200 . 10500-11000 PE liquidated 13.2 Lakh in OI so bulls covered position in range 11200-11300 PE.FII bought 140 PE and 8 K PE were shorted by them. Retail bought 69.1 K PE and 40 K PE were shorted  by them.
  • Total Future & Option trading volume at 10.70 Lakh core with total contract traded at 1.04 lakh , PCR @0.90

Buy above 11550 Tgt 11570,11590 and 11610 (Nifty Spot Levels)

Sell below 11505 Tgt 11480,11460 and 11444 (Nifty Spot Levels)

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