Nifty complete Gann Price Cycle from 11100-11376

  • FII’s bought 5.2 K contract of Index Future worth 485 cores 2.8 K Long contract were added by FII’s and 2.3 K  Short contracts were covered by FII’s. Net Open Interest increased  by 534 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 1.47. Recency Bias and Its Influence in Trading
  • As Discussed in Last Analysis High made was 11352 now waiting for target of 11376/11449 till we can holding 11250-11270. Bearish below 11230 for a move back to 11156/11100. 11376 done today which complete the 11100-11376. Now Fresh long can be taken above 11385 for a move towards 11449/11500. Bearish below 11230 for a move back to 11156/11100.
  • Important intraday time for reversal can be at 9:59/12:51/1:40 Bank Nifty EOD Analysis

  • Nifty March Future Open Interest Volume is at 1.82 core with addition of 1.6 Lakh with  increase in  cost of carry suggesting long position were closed today, NF Rollover cost @10868 closed above it,rallied 350 points
  • 11400 CE  is having Highest OI  at 24.5 Lakh, resistance at 11400 followed by 11500 .10800-11500 CE added 0.61 Lakh in OI so bears added position in range of 11400-11500. FII sold 15 K CE and 6.3 K shorted CE were covered by them. Retail sold 70 K CE and 81 K shorted CE were covered by them.
  • 11000 PE OI@ 39.8 Lakhs having the highest OI strong support at 11200 followed by 11000 . 10500-11000 PE added 19.6 Lakh in OI so bulls added position in range 11000-11100 PE.FII sold 21.7 K PE and 15.1 K shorted PE were covered  by them. Retail sold 21.7 K PE and 15.1 K shorted  PE were by them.
  • Total Future & Option trading volume at 19.97  Lakh core with total contract traded at 1 lakh , PCR @0.85

Buy above 11352 Tgt 11368,11390 and 11422 (Nifty Spot Levels)

Sell below 11310 Tgt 11290,11276 and 11250 (Nifty Spot Levels)

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