Nifty rallies 150 Points from Demand Zone ahead Weekly Expiry

  • FII’s bought 8.7 K contract of Index Future worth 746 cores 6.1 K Long contract were added by FII’s and 2.6 K Short contracts were covered by FII’s. Net Open Interest increased  by 3.4 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 0.96 Learn How to Pull the Trigger on a Trade
  • As Discussed in Last Analysis    Range of 10570-10585 is very important demand zone as i have discussed on Twitter on 15 Feb. Fresh Short should be taken below 10575 for a move towards 10512/10470.  Long shall be taken above 10666 for a move towards 10721/10777. All Bullish target done High made was 10752 near our final target of 10777 and Price bounced from Demand Zone and Gann angle support.Bulls will become active again at 10760 for a move towards 10791/10843/10890.  Bears will become active below 10685 for a move back to 0630/10586.

  • Nifty Feb Future Open Interest Volume is at 2.17 core with liquidation of 2.2 Lakh with  increase in  cost of carry suggesting short position were closed today, NF Rollover cost @10727 closed below it.
  • 11000 CE  is having Highest OI  at 39.8 Lakh, resistance at 10800 followed by 10900 .10400-11000 CE liquidated 12.4 lakh in OI so bears  covered position in range of 10800-10900. FII bought 22.2 K CE and 2.6 K  shorted CE were covered by them. Retail sold 100 K CE and 37 K shorted CE were covered by them.
  • 10700 PE OI@ 27.8  Lakhs having the highest OI strong support at 10600 followed by 10500 . 10500-11000 PE added 8.1  Lakh in OI so bulls covered position in range 10700-10600 PE. FII bought 7.3 K PE and 640  PE were shorted by them. Retail bought 140 K PE and 76.5 K PE were shorted by them.
  • Total Future & Option trading volume at 10.11 Lakh core with total contract traded at 1.41 lakh , PCR @0.92

Buy above 10755 Tgt 10777,10795 and 10821 (Nifty Spot Levels)

Sell below 10700 Tgt 10685,10666 and 10630 (Nifty Spot Levels)

Upper End of Expiry : 10831

Lower End of Expiry : 10639

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