Nifty crashes 14% as Venus at Perihelion shows Effect

  • FII bought 12.3 K contract of Index Future worth 859 cores, Net OI has decreased by 3.9 K contract, 4.1 K Long contract were added by FII and 8.1 K shorts were covered by FII. Net FII Long Short ratio at 0.46, So FII used fall to enter longs and exit shorts.
  • Nifty saw the biggest fall ever falling 1143 points or 14% in the history of Indian Market.As I have discussed in last analysis we have an important astro date which is Venus at Perihelion which always lead to big move in market and we saw it. 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.

  • Total Future & Option trading volume at 4.16 Lakh core with total contract traded at 5 lakh , PCR @0.50
  • Nifty April Future Open Interest Volume is at 1.58  Lakh core with liquidation of11 Lakh with decrease in cost of carry suggesting short position were closed today, NF Rollover cost @11769 closed below it.
  • 8200 CE is having Highest OI at 22  Lakh, resistance at 8200 followed by 8400 .7500-8200 CE added 20 Lakh in OI so bears added position in range of 8200-7500.FII sold 3.5 K CE and 9.1 K CE were shorted by them. Retailers bought 54 K CE and 19 K  CE were shorted by them.
  • 7400 PE OI@21 Lakhs having the highest OI strong support at 7400 followed by 7200. 7400-8000 PE added 10 Lakh in OI so bulls added position in range 7400 -7600 .FII sold 6.2 K PE and 15 K PE were shorted by them. Retailers sold 112  K PE and 81 K PE were shorted by them.
  • FII’s sold 2989 cores and DII’s bought 1082 cores in cash segment.INR closed at 76.40

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

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

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