Nifty close above 9130, heading towards Life High

  • FII’s bought 11.7 K contract of Index Future worth 754 cores ,39.9 K Long contract were added by FII’s and 28.2 K Short contracts were added by FII’s. Net Open Interest increased  by 68.2 K contract, so rise in market was used by FII’s to enter long and enter short in  Index futures. The Benefits of Being Prepared in Trading
  • As discussed in last analysis   Range expansion can be seen only on close above 9130 for a move towards 9216 and Bearish on close below 8992 for a move towards 8920. High made today was 9110 so we again did the move towards 9110 from 9030 suggesting gann angles are still in force. As per time analysis we have made a low till 9020 is not broken and we can see upmove towards 9175/9216/9268 once we close above 9130 Bearish below 9077 for a move back to 9020/8992 We have seen close above 9130 today above gann angles, suggesting we can see range expansion and we are heading towards 9175/9216/9268. Bearish below 9070 for a move till 9020 Bank Nifty hits life high holding 21150,EOD Analysis

  • Nifty March Future Open Interest Volume is at 1.63 core with liquidation of 33 Lakh with decrease in cost of carry suggesting long position were added today, NF Rollover cost @8925 closed above it before election results and rewarded big time.
  • Total Future & Option trading volume at 5.76 Lakh core with total contract traded at 1.4 lakh , PCR @0.95
  • 9200  CE  is having Highest OI  at 65.4 lakh, resistance at 9200 followed by 9250 .9000-9300 CE liquidated 33 Lakh in OI so bears ran for cover in 9100-9150 CE.FII sold 6.4 K CE longs and 1.3 K shorted  CE were covered by them.Retail sold 119 K CE contracts and 157 CE were shorted by them.
  • 9100 PE OI@52.1 lakhs having the highest OI strong support at 9100 followed by 9050. 9000-9300 PE added 22 Lakh in OI so bulls added in 9000/9100 PE. FII bought 8.6 K PE and 2.8 K PE were shorted by them  .Retail bought 43.3 K PE contracts and 34.7 K PE were shorted by them.
  • FII’s bought 461 cores in Equity and DII’s bought 1283 cores in cash segment.INR closed at 64.91

Buy above 9162 Tgt 9180,9201 and 9222 (Nifty Spot Levels)

Sell below 9130 Tgt 9110,9085 and 9050 (Nifty Spot Levels)

Upper End of Expiry: 9201

Lower End of Expiry: 9086

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