Nifty Analysis as India Goes in 21 Days Lock down

  • FII bought 53.9  K contract of Index Future worth 3197 cores, Net OI has decreased by 26.9 K contract, 13.5 K Long contract were added by FII and 40.4 K shorts were covered by FII. Net FII Long Short ratio at 1.12, So FII used fall to enter longs and exit shorts.
  •  As discussed in last analysis  Today we have another astro event when mercury is at its highest elongation which tend to lead to trend change for short term, Nifty bulls now need to move above 7921 for a move back to 8000/8100/8225. Bears will get active below 7784 for a move back to 7697/7593/7444/7341.  2 Bearish target done below 7784 . Todays High and low are important for next 300 points move in  nifty.Nifty bulls now need to move above 7921 for a move back to 8030/8100/8225. Bears will get active below 7744 for a move back to 7569/7480/7400.

  • Total Future & Option trading volume at 5.50 Lakh core with total contract traded at 3.76 lakh , PCR @0.54
  • Nifty April Future Open Interest Volume is at 60  Lakh core with addition of 10 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @11769 closed below it.
  • 8200 CE is having Highest OI at 26  Lakh, resistance at 8200 followed by 8400 .7500-8200 CE added 25 Lakh in OI so bears added position in range of 8200-7500.FII bought 7.9 K CE and 227 CE were shorted by them. Retailers sold 1.6 K CE and 7.9 K  CE were shorted by them.
  • 7400 PE OI@25 Lakhs having the highest OI strong support at 7400 followed by 7200. 7400-8000 PE added 12 Lakh in OI so bulls added position in range 7400 -7600 .FII bought 8.1 K PE and 8.6 K PE were shorted by them. Retailers bought 71 K PE and 44.5 K PE were shorted by them.
  • FII’s sold 2153 cores and DII’s bought 1553 cores in cash segment.INR closed at 76.25

Buy Above 7871 Tgt 7985,8100 and 8200 (Nifty Spot Levels)

Sell Below 7697 Tgt 7600,7530 and 7431 (Nifty Spot Levels)

Leave a Reply