Nifty Analysis after Hitting Lower Circuit

  • FII bought 33.8  K contract of Index Future worth 2497 cores, Net OI has decreased by 38 K contract, 2.1 K Long contract were covered by FII and 36 K shorts were covered by FII. Net FII Long Short ratio at 0.27, So FII used fall to exit longs and exit shorts.
  • As shared on Twitter We made low of 10476 during pre open session after we hit Lower Circuit and we are up almost 1500 points in single trading session. This fall started with Neptune in Conjunction with Sun which happened on 08 March. Now for this correction to get over and also have we made a bottom bulls need a close above 10160, else we will revisit 9600-9300 range again. For tommrow Bulls need to hold 9755-9800 range in case we open gap down for a move back to 9999/10100/10225. Bears will get active below 9700 for a move back to 9500/9401/9300.

  • Total Future & Option trading volume at 8.46 Lakh core with total contract traded at 6.8 lakh , PCR @0.48
  • Nifty March Future Open Interest Volume is at 1.54  Lakh core with liquidation of 8 Lakh with decrease in cost of carry suggesting short position were closed today, NF Rollover cost @11769 closed below it.
  • 10500 CE is having Highest OI at 22  Lakh, resistance at 10500 followed by 10600 .9500-10600 CE added 20 Lakh in OI so bears added position in range of 10300-10600.FII bought 36 K CE and 17 K CE were shorted by them. Retailers bought 2.2 K CE and 18 K  CE were shorted by them.
  • 9500 PE OI@21 Lakhs having the highest OI strong support at 9500 followed by 9300. 9500-10000 PE added 10 Lakh in OI so bulls added position in range 9500-9600.FII sold 15.4 K PE and 2.6 K PE were shorted by them. Retailers bought 73 K PE and 18.5 K PE were shorted by them.
  • FII’s sold 6027 cores and DII’s bought 5867ccores in cash segment.INR closed at 74.10

Buy Above 10000 Tgt 10075,10160 and 10250  (Nifty Spot Levels)

Sell Below 9755 Tgt 9700,9650 and 9555 (Nifty Spot Levels)

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