Nifty crashes below Gann Number of 10648

  • FII bought 3.3 K contract of Index Future worth 221 cores, Net OI has increased by 2.1K contract, 2.7 K Long contract were added by FII and 615 shorts were covered by FII. Net FII Long Short ratio at 0.18, So FII used fall to enter longs and exit shorts.
  • 10648 was an important gann number and break of same saw a big fall in nifty towards 10300. IF we break 10300 we can see fall towards 10158/10100. Range of 10158-10100 is important support zone. Bulls have there chances above 10500 for a move back to 10555/10600/10730.

  • Total Future & Option trading volume at 11.70 Lakh core with total contract traded at 3.7 lakh , PCR @0.80
  • Nifty March Future Open Interest Volume is at 1.72  Lakh core with liquidation of 1.6 Lakh with increase in cost of carry suggesting short position were closed today, NF Rollover cost @11769 closed below it.
  • 10600 CE is having Highest OI at 20  Lakh, resistance at 10500 followed by 10600 .10100-10600 CE added 20 Lakh in OI so bears added position in range of 10500-10600.FII bought 57 K CE and 40 K CE were shorted by them. Retailers bought 160 K CE and 93 K  CE were shorted by them.
  • 10100 PE OI@11.5 Lakhs having the highest OI strong support at 10300 followed by 10100. 10100-10600 PE added 10 Lakh in OI so bulls added position in range 11300-11500.FII bought 28 K PE and 16.4 K PE were shorted by them. Retailers sold  128 K PE and 5.9 K shorted PE were covered by them.
  • FII’s sold 6595 cores and DII’s bought 4974 cores in cash segment.INR closed at 75.30

Buy Above 10470 Tgt 10520,10555 and 10600 (Nifty Spot Levels)

Sell Below 10400 Tgt 10366,10333 and 10300 (Nifty Spot Levels)

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