Nifty analysis as we approach monthly closing

  • FII’s bought 8.6 K contract of Index Future worth 783 cores ,8.5 K Long contract were added by FII’s and 38 Short contracts were covered by FII’s. Net Open Interest increased  by 8.5 K contract, so fall in market was used by FII’s to enter  long and exit short in  Index futures.  FII’s Long to Short Ratio at 1.14 .How to stay grounded in Trading.

 

  • As Discussed in Last Analysis   Low made today was 10520 and we did all target till 10600.We were able to capture 200 points from the time cycle low.  We are in crucial supply zone of 10600-10630 zone, Bulls need a close above 10610 for a move back towards 10656/10730. Bearish below 10550 for a move back towards 10512/10450. High made today was 10631 so nifty hit the supply zone as we discussed and saw pullback. Bulls need a close above 10631 to come out of this downtrend. Nifty went below 10550 but failed to do our target and closed near 10550. Bulls need a close above 10631 and bear below 10512 and in between is no trade zone, Scalpers can buy at lower end of range and short at higher end of range. As we have monthly closing tommrow bulls need to see close above 10521 for bull run to continue for rest of the year.Important intraday time for reversal can be at 1:20/2:34.  Bank Nifty analysis as we approach monthly closing

 

  • Nifty March Future Open Interest Volume is at 2.11 core with addition of 8.9 Lakh with decrease in  cost of carry suggesting Long position were closed today, NF Rollover cost @10395.
  • Total Future & Option trading volume at 5.55 Lakh core with total contract traded at 1.23 lakh , PCR @0.95
  • 10700 CE  is having Highest OI  at 32.5 Lakh, resistance at 10700 followed by 10900 .10000-10700 CE added 9.9 Lakh in OI so bears added position  in range of 10600-10800. FII bought 4.4 K CE and 873 CE were shorted  by them. Retail bought 88 K CE and 58 K CE were shorted by them.

 

  • 10400 PE OI@35.6 lakhs having the highest OI strong support at 10400 followed by 10300 . 10300-10700 PE added 9.2 Lakh in OI so bulls added major position in 10300-10400 PE. FII bought 11.7 K PE and 3.6 K PE were shorted  by them. Retail sold 15.2 K PE and 10.5 K PE were shorted by them.

 

  • FII’s sold 906 cores  and DII’s bought 1046 cores in cash segment.INR closed at 64.88

 

Buy above 10575 Tgt 10590,10611 and 10631 (Nifty Spot Levels)

Sell below 10537 Tgt 10517,10480 and 10460 (Nifty Spot Levels)

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