Nifty Crashes on Budget Day

  • FII sold 12.4  K contract of Index Future worth 1409 cores, Net OI has increased by 30 K contract, 35.5 K Long contract were added by FII and 24 K  short were added by FII. Net FII Long Short ratio at 0.23, So FII used fall to enter longs and enter shorts. FII long to short ratio fell from 0.66 to 0.18 in 2 days suggesting FII’s were prepared for this fall.
  • As discussed in last analysis  As we have budget today lot of volatile move will be seen. 11760 should be watched very in case of any big decline. Bears will get active below 11881 for a move towards 11760/11666. Bulls have there chance above 12025 for a move back to 12080/12150/12216. High made was 12017 so bulls unable to move above 12025 and bears once below 11881 Gann Price level as discussed in below video we did all target on downside till 11666. Bears below 11600 can see fall extending towards 11525/11450. Bulls have there change only above 11720 for a move back to 11760/11825.

  • Total Future & Option trading volume at 14.7 Lakh core with total contract traded at 3 lakh , PCR @0.66
  • Nifty Feb Future Open Interest Volume is at 1.39 Lakh core with addition of 25.5 Lakh with decrease in cost of carry suggesting short position were added today, NF Rollover cost @12149 closed below it.
  • 12000 CE is having Highest OI at 31 Lakh, resistance at 11800 followed by 12000 .12200-12400 CE added 76 Lakh in OI so bears added position in range of 11800-12000.FII bought 11.2 K CE and 41.9 K CE were shorted by them. Retailers bought 364 K CE and 207 K CE were shorted by them.
  • 11500 PE OI@14.9 Lakhs having the highest OI strong support at 11500 followed by 11400. 11700-12200 PE added 17 Lakh in OI so bulls added position in range 11400-11600.FII bought 24.2 K PE and 12.7 K PE were shorted by them. Retailers bought 19.6 K PE and 45.3 K PE were shorted by them.
  • FII’s sold 1199 cores and DII’s bought 36 cores in cash segment.INR closed at 71.56

Buy Above 11720 Tgt 11750,11785 and 11820 (Nifty Spot Levels)

Sell Below 11630 Tgt 11600,11570 and 11525 (Nifty Spot Levels)

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