Nifty rallies on Time Cycle date

By | March 26, 2019

  • FII’s sold 27.4 K  contract of Index Future worth 1883 cores 3.8 K Long contract were added by FII’s and 31.3 K  Short contracts were added by FII’s. Net Open Interest increased  by 35.2 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 1.55. Strong Emotions in Trading

 

  • As Discussed in Last Analysis  Bears will have upperhand till we are below 11400 for a move towards 11276/11230. Bulls will get active above 11400 for a move towards 11450/11510. 26 March is also important time cycle. 26 March was important day as its was confluence of 2 cycle and once 11400 was taken out bulls were having upper hand and rallied towards all our target. Fresh long should be taken above 11525 for a move towards 11578/11610. Shorts will get activated below 11400 for a move back to 11352/11300.

  • Nifty April Future Open Interest Volume is at 1.10 core with addition of 31 Lakh with  increase in  cost of carry suggesting long position were added today, NF Rollover cost @10868 closed above it,rallied 620 points.

 

  • 11600 CE  is having Highest OI  at 24.3 Lakh, resistance at 11600 followed by 11700 .11000-11600 CE liquidated 38 Lakh in OI so bears covered position in range of 11500-11600. FII bought 5.8 K CE and 429 CE were shorted by them. Retail sold 120 K CE and 57.6 K  shorted CE were covered by them.

 

  • 11400 PE OI@ 30 Lakhs having the highest OI strong support at 11400 followed by 11300 . 11000-11600 PE added 15 Lakh in OI so bulls added position in range 11300-11400 PE.FII bought 10.3 K PE and 21.3 K PE were shorted by them. Retail bought 90.1 K PE and 49.7 K PE were shorted  by them.
  • Total Future & Option trading volume at 11.71 Lakh core with total contract traded at 1.58 lakh , PCR @0.82

 

 

Buy above 11500 Tgt 11525,11551 and 11578 (Nifty Spot Levels)

Sell below 11440 Tgt 11417,11390 and 11364 (Nifty Spot Levels)

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