Nifty fall 247 point as Mercury Change Sign

By | April 22, 2019

  • FII’s bought 5.4 K contract of Index Future worth 294 cores 2.5 K Long contract were covered by FII’s and 8 K Short contracts were covered by FII’s. Net Open Interest decreased  by 10.6 K contract, so rise in Nifty was used by FII’s to exit long and exit short in  Index futures.FII’s Long to Short Ratio at 1.96. Build Good Trading Habits
  • As Discussed in Last Analysis Nifty opened with a gap up made high of 11856 and corrected showing the effect of Mercury change,Bears will get active below 11735 for a move back to 11666/11610. High made today was 11727 and Nifty did all our target on downside ,also Intraday Levels mentioned on twitter did the target.Now Bulls need to go above 11666 for a move back to 11740/11810. Bears will get active below 11550 for a move back to 11500/11450. Bank Nifty fall 500 point as Mercury Change Sign

  • Nifty April Future Open Interest Volume is at 1.37 core with liquidation  of 20 Lakh with  increase in  cost of carry suggesting short position were added today, NF Rollover cost @11537.
  • Total Future & Option trading volume at 8.47 Lakh core with total contract traded at 1.27 lakh , PCR @0.88
  • 11700 CE  is having Highest OI  at 41.5  Lakh, resistance at 11700  followed by 11800 .11000-11800 CE added 59 Lakh in OI so bears added position in range of 11600-11800. FII bought 12.3 K CE and 970 shorted CE were covered by them. Retail bought 235 K CE and 161 K CE were shorted by them.
  • 11500 PE OI@24.5 Lakhs having the highest OI strong support at 11500 followed by 11400 . 11000-11600 PE liquidated 24.5 Lakh in OI so bulls covered position in range 11400-11500 .FII bought 30.2 K PE and 5.8 K shorted PE were covered by them. Retail sold 3.2 K PE and 30.5 K  shorted PE were covered by them.

Buy above 11610  Tgt 11635,11656 and 11688 (Nifty Spot Levels)

Sell below 11580 Tgt 11565,11545 and 11525 (Nifty Spot Levels)

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