Nifty Analysis as Coronavirus-Sparked Sell off

  • As discussed in last analysis  Nifty has broken gann angle support suggesting fall can extend 11300 if we break 11600 on DAILY Closing basis. Bulls will get active above 11711 for a move back to 11777/11830. Bears are heading towards 11610/11570.Bears were able to do 11570 on downside and still trading below gann angle suggesting fall can extend towards 11300-11212 if today we see weekly close below 11530. Fall is going as per our astro analysis so hope readers are able to make money. Based on Gap down opening will be updating level on Twitter. You can follow us on Twitter to get real time levels.

  • Total Future & Option trading volume at 32 Lakh core with total contract traded at 1.45 lakh , PCR @0.85
  • Nifty March Future Open Interest Volume is at 1.44 Lakh core with addition of 39 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @11769 closed below it.
  • 11600 CE is having Highest OI at 10  Lakh, resistance at 11600 followed by 11700 .11600-12100 CE added 20 Lakh in OI so bears added position in range of 11600-11700.
  • 11500 PE OI@11.5 Lakhs having the highest OI strong support at 11500 followed by 11300. 11300-11600 PE added 10 Lakh in OI so bulls added position in range 11300-11500
  • FII’s sold 3127 cores and DII’s bought 3497 cores in cash segment.INR closed at 71.80

Buy Above 11570 Tgt 11610,11640 and 11685 (Nifty Spot Levels)

Sell Below 11530 Tgt 11484,11431 and 11370  (Nifty Spot Levels)

2 thoughts on “Nifty Analysis as Coronavirus-Sparked Sell off”

Leave a Reply