Nifty Analysis after Surgical Strike

  • FII’s sold 8.7 K contract of Index Future worth 698 cores 3K Long contract were covered by FII’s and 5.6 K  Short contracts were added by FII’s. Net Open Interest increased  by 2.5 K contract, so rise in Nifty was used by FII’s to enter long and exit short in  Index futures.FII’s Long to Short Ratio at 0.91. When You fail as a trader
  • As Discussed in Last Analysis  Bears have chance below 10777 for a move back to 10730/10685. Nifty opened with gap down due to Surgical Strike  failed to do higher targets but protected the time cycle low of 10721. Bears will become active below 10800 for a move back to 10721/10666. Bulls will rally above 10890 for a move towards 10933/10985/11035.

  • Nifty March Future Open Interest Volume is at 0.81 core with addition of 26.1 Lakh with  decrease in  cost of carry suggesting short position were added today, NF Rollover cost @10727 closed above it.
  • 11000 CE  is having Highest OI  at 46.4 Lakh, resistance at 10900 followed by 11000 .10400-11000 CE added 8.6  lakh in OI so bears  added position in range of 10800-10900. FII sold 3.3 K CE and 728  shorted CE were covered by them. Retail bought 41.8  K CE and 25.5 K CE were shorted by them.
  • 10800 PE OI@ 26 Lakhs having the highest OI strong support at 10600 followed by 10500 . 10500-11000 PE liquidated 33.1  Lakh in OI so bulls covered position in range 10700-10600 PE. FII sold 1.6 K PE and 5.2 K PE were shorted by them. Retail sold 51 K PE and 30 K shorted  PE were covered by them.
  • Total Future & Option trading volume at 11.90 Lakh core with total contract traded at 2.16 lakh , PCR @1.07

Buy above 10850 Tgt 10877,10890 and 10915 (Nifty Spot Levels)

Sell below 10810 Tgt 10785,10750 and 10721 (Nifty Spot Levels)

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