Nifty Continue to face resistance at 11740

  • FII’s sold 690  contract of Index Future worth 74 cores 1 K Long contract were added by FII’s and 1.6 K  Short contracts were added by FII’s. Net Open Interest increased  by 2.7 K contract, so rise in Nifty was used by FII’s to enter long and enter short in  Index futures.FII’s Long to Short Ratio at 2.08. Strong Emotions in Trading

  • Nifty April Future Open Interest Volume is at 1.59 core with liquidation  of 0.52 Lakh with  increase in  cost of carry suggesting short position were added today, NF Rollover cost @11537.
  • Total Future & Option trading volume at 7.56  Lakh core with total contract traded at 0.96  lakh , PCR @0.90
  • 11800 CE  is having Highest OI  at 15.1 Lakh, resistance at 11700  followed by 11800 .11000-11800 CE added 0.57 Lakh in OI so bears added position in range of 11600-11800. FII bought 8.3 K CE and 282 CE were shorted by them. Retail bought 12.8 K CE and 28.2 K CE were shorted by them
  • 11500 PE OI@19.2  Lakhs having the highest OI strong support at 11400 followed by 11300 . 11000-11600 PE added 10 Lakh in OI so bulls added position in range 11300-11400 PE.FII sold 357 PE and 9.4 K PE were shorted by them. Retail bought 82.6 K PE and 91.4 K shorted  PE were covered by them.

Buy above 11740 Tgt 11760,11790 and 11816 (Nifty Spot Levels)

Sell below 11690 Tgt 11666,11644 and 11610 (Nifty Spot Levels)

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