Nifty Trade set up for 20 March

  • FII bought 775 contract of Index Future worth 44 cores, Net OI has decreased by 2.5 K contract, 883 Long contract were covered by FII and 1.6 K shorts were covered by FII. Net FII Long Short ratio at 0.50, So FII used fall to exit longs and exit shorts.
  • As discussed in last analysisNow Bears till below 8480 can see fall extending towards 8200/8000. 8000 is important gann number. Bulls need a move above 8500 for a move back to 8600/8721/8900. Lot of traders are looking for bottom look for 2 green candles on daily time frame for any short term bottom. 21 is very important astro date so effect should be seen today or on Monday. Bulls now need to move above 8333 for a mvoe back to 8400/8460/8525 . Bears will get active below 8200 for a move back to 8100/8000/7930

  • Total Future & Option trading volume at 18 Lakh core with total contract traded at 5.5 lakh , PCR @0.70
  • Nifty March Future Open Interest Volume is at 1.42  Lakh core with liquidation of 16 Lakh with decrease in cost of carry suggesting short position were closed today, NF Rollover cost @11769 closed below it.
  • 8800 CE is having Highest OI at 23  Lakh, resistance at 8800 followed by 9000 .8500-9500 CE added 30 Lakh in OI so bears added position in range of 8500-8800.
  • 8200 PE OI@21 Lakhs having the highest OI strong support at 8200 followed by 8000. 8000-8200 PE added 10 Lakh in OI so bulls added position in range 8200 -8000 .
  • FII’s sold 4622 cores and DII’s bought 4367 cores in cash segment.INR closed at 75.08

Buy Above 8333 Tgt 8400,8456 and 8525 (Nifty Spot Levels)

Sell Below 8200 Tgt 8156 ,8100 and 8030 (Nifty Spot Levels)

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