Nifty continue to hold Surgical Strike Low

  • As Discussed in Last Analysis  As we have expiry tomorrow Bulls will rally above 10821 for a move back to 10877/10931. Bears will get active below 10720 for a move back to 10666/10610.  Bears will get active below 10777 for a move back to 10720/10666.Bulls will rally above 10821 for a move back to 10865/10890/10931.

  • Nifty March Future Open Interest Volume is at 1.42 core with addition of 36.3 Lakh with  increase in  cost of carry suggesting long position were added today, NF Rollover cost @10868 closed below  it.
  • 11000 CE  is having Highest OI  at 15.8 Lakh, resistance at 10900 followed by 11000 .10400-11000 CE added 9.5 lakh in OI so bears  added position in range of 10800-10900.
  • 10700 PE OI@ 23 Lakhs having the highest OI strong support at 10700 followed by 10650 . 10500-11000 PE added 18.2  Lakh in OI so bulls added position in range 10700-10600 PE.
  • Total Future & Option trading volume at 17.30  Lakh core with total contract traded at 1.31 lakh , PCR @0.91

Buy above 10821 Tgt 10850,10877 and 10900 (Nifty Spot Levels)

Sell below 10785 Tgt 10765,10750 and 10721 (Nifty Spot Levels)

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