- FII’s bought 14 K contract of Index Future worth 803 cores ,15.5 K Long contract were added by FII’s and 1.5 K short contracts were added by FII’s. Net Open Interest increased by 17 K contract, so DOJI formed today in Nifty market was used by FII’s to enter majority long and enter shorts in Index futures. Trade Psychology Rules to Follow
- As discussed in last analysis we need a close above 7512 for move towards 7556/7601. Support in range of 7360/7380 range. Do remember overbought market can remain overbought for prolonged period of time, Just market is overbought does not mean go and short it. Nifty made high of 7527 near supply zone of 7512 and also near the gann arc as shown below , found resistance and corrected till previous day low of 7444. We has 2 small correction in this upmove of 65/85 points, if we have correction more than 100 points than we can say trend has turned from neutral to bearish. Bank Nifty struggling in gann arc,EOD Analysis
- Nifty March Future Open Interest Volume is at 2.29 core with addition of 7.7 Lakh with decrease in cost of carry suggesting short position were closed today, NF closed above Rollover cost @7147. Nifty rallied 300 points above Rollover cost
- Total Future & Option trading volume was at 2 Lakh core with total contract traded at 1.5 lakh , PCR @1.06, .How To Identify Market Tops and Bottom
- 7500 CE OI at 59 lakh , wall of resistance @ 7500 .7000/7500 CE liquidated 5.8 lakh so bears ran for cover in 7200/7300 CE .FII sold 0.005 K CE longs and 10.7 K CE were shorted by them .Retail bought 31.1 K CE contracts and 12.7 K CE were shorted by them.
- 7000 PE OI@68.1 lakhs having the highest OI strong support at 7000 . 7000/7400 PE added 13 lakh so bulls trying to form a based around 7100/7200.FII sold 3.9 K PE longs and 5.1 K shorted PE were by them .Retail bought 31.1 K PE contracts and 34.3 K PE were shorted by them.
- FII’s bought 775 cores in Equity and DII’s sold 1341 cores in cash segment.INR closed at 67.34
- Nifty Futures Trend Deciding level is 7452 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 7240 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 7520 Tgt 7540,7570 and 7600 (Nifty Spot Levels)
Sell below 7470 Tgt 7442 ,7412 and 7396 (Nifty Spot Levels)
My only advise to traders is do not buy options..
Hello sir today I buy call 7700. Tomorrow there is gap up opening possible because Open interest of 7700 is 50 Lake can i hold for 10th march
Thanks for the thorough analysis. I think most of the gains are in, the next big move most likely down will happen post the ECB and FED rate decisions after the 16 th.
its up till we are holding 7250
Sir what is the market direction after today’s zero loss ?