Nifty Analysis as RBI Governor meets media at 10 AM

  • FII sold 4.8 K contract of Index Future worth 360 cores, Net OI has increased by 1.10 K contract, 86 K Long contract were covered by FII and 25 K shorts were covered by FII. Net FII Long Short ratio at 0.42, So FII used fall to exit longs and exit shorts.
  •  As discussed in last analysis Now bulls need to 8400 for a move back to 8464/8555/8610/8666 Bears will get active below 8200 for a move back to 8125/8076/8000.Low made was 8304 and once above 8400 all bullish target were done so we saw how price and time helps us in capturing big move in the market. For today as we have RBI Governor press conference volatile move will be seen, Keep an eye of intraday timing to get the trading opportunity.  Bulls now need to move above 8750  for a move back to 8816/8888/8960. Bears will get active below 8520 for a move back to 8470/8410/8370/8300. Very Important astro date today.

  • Total Future & Option trading volume at 14 Lakh core with total contract traded at 2.5 lakh , PCR @0.82
  • Nifty April Future Open Interest Volume is at 1  Lakh core with addition of 26  Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @8093 closed above it and rollover %@ 53.5 lowest in last 12 months.
  • 8900 CE is having Highest OI at 16  Lakh, resistance at 8900 followed by 9100 .8400-9100 CE added 25 Lakh in OI so bears added position in range of 8700-9000.FII bought 11.1  K CE and 4.8 K shorted CE were covered by them. Retailers sold 48 K CE and 34 K  shorted CE were covered  by them.
  • 8000 PE OI@25 Lakhs having the highest OI strong support at 8000 followed by 7700. 7400-8000 PE added 12 Lakh in OI so bulls added position in range 7700 -8000 .FII bought 10 K PE and 17.7 K PE were shorted by them. Retailers bought 124 K PE and 92 K PE were shorted by them.
  • FII’s sold 484 cores and DII’s bought 769 cores in cash segment.INR closed at 75.11

Buy Above 8720 Tgt 8765,8812 and 8860 (Nifty Spot Levels)

Sell Below 8525 Tgt 8470,8410 and 8340 (Nifty Spot Levels)

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