Nifty heading towards life high holding gann angle,EOD Analysis

  • FII’s bought 7.9 K contract of Index Future worth 403 cores ,20.9 K  Long contract were added  by FII’s and 11.1 K Short contracts were added by FII’s. Net Open Interest increased  by 33.9 K contract, so rise in market was used by FII’s to enter long and enter short in  Index futures. Becoming a Forgiving Person: Aikido Surprise
  • As discussed in last analysis  So still we are in neutral zone breakout above 9150 for a move towards 9221/9268. Bearish below 9080 for a move towards 9020/8970. Low made today was 9130 and as soon as 9150 broken bulls were in front hand and rallied nifty till 9225 meeting our 1 target of 9225, Now holding 9200 we can march towards new high breaking 9274. Bearish below 9150 for a move towards 9070’9020.  Bank Nifty rallies towards life high holding gann angle

  • Nifty April Future Open Interest Volume is at 1.66 core with liquidation of 20 Lakh with increase in  cost of carry suggesting short position were closed today, NF Rollover cost @9148 closed above it.
  • Total Future & Option trading volume at 5.66 Lakh core with total contract traded at 1.7 lakh , PCR @1.1
  • 9300  CE  is having Highest OI  at 40 lakh, resistance at 9250 followed by 9300 .9000-9500 CE liquidated 32 Lakh in OI so bears ran for cover as nifty closed above 9200.FII bought 5.8 CE longs and 13.1 K shorted CE were covered by them.Retail sold 60 K CE contracts and 6.1 K  CE were shorted  by them.
  • 9000 PE OI@54.4  lakhs having the highest OI strong support at 9000 followed by 8900. 9000-9500 PE added 44 Lakh in OI so bulls added in 9000/9100 PE . FII sold 11.4 K PE and 4 K PE were shorted by them.  .Retail bought  129 K PE contracts and 58.5 K shorted PE were covered by them.
  • FII’s sold 279 cores in Equity and DII’s bought 984 cores in cash segment.INR closed at 64.43

Buy above 9230 Tgt 9250,9272 and 9300 (Nifty Spot Levels)

Sell below 9185 Tgt 9170,9150 and 9135 (Nifty Spot Levels)

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