Nifty Ready for a Big Move

  • FII’s bought 4 K contract of Index Future worth 532 cores 3.3 K Long contract were added by FII’s and 777  Short contracts were covered by FII’s. Net Open Interest decreased  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 1.14. Emotions and Intraday Trading
  • As Discussed in Last Analysis  Bulls now need to hold 11000 for the upmove to continue towards 11111/11177/11230.Bears will get active below 10970 for a move back to 10890/10830/10777. High made today was 11089 and bulls held on to 11000, Now Bulls need to continue holding 11000 for up move to continue towards 11111/11177/11230.Bears will get active below 10970 for a move back to 10890/10830/10777. We have Important Astro date on 08 Mar and 09 Mar is Gann 10 Year Cycle,so expect good move in next 2 trading sessions.

  • Nifty March Future Open Interest Volume is at 1.45 core with liquidation of 1.32 Lakh with  decrease in  cost of carry suggesting long position were closed today, NF Rollover cost @10868 closed above it,rallied 250 points
  • 11200 CE  is having Highest OI  at 18.6 Lakh, resistance at 11200 followed by 11100 .10400-11200 CE added 4 Lakh in OI so bears  added position in range of 11100-11200. FII bought 18 K CE and 5.3 K CE were shorted by them. Retail sold 118 K CE and 60 K shorted CE were covered by them.
  • 11000 PE OI@ 33.8 Lakhs having the highest OI strong support at 11000 followed by 10900 . 10500-11000 PE added 14.6 Lakh in OI so bulls added position in range 10800-10900 PE.FII sold 15.9 K PE and 1.8 K shorted PE were covered by them. Retail sold 295 K PE and 224  K shorted  PE were covered by them.
  • Total Future & Option trading volume at 17  Lakh core with total contract traded at 1.02 lakh , PCR @0.86

Buy above 11066 Tgt 11085,11118 and 11137 (Nifty Spot Levels)

Sell below 11020 Tgt 10980,10955 and 10920 (Nifty Spot Levels)

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