Nifty React from Gann Angle,EOD Analysis

  • FII sold 2.4 K contract of Index Future worth 29 cores, Net OI has decreased by 6.3 K contract, 4.4 K Long contract were covered by FII and 1.9 K shorts were covered by FII. Net FII Long Short ratio at 0.37, So FII used fall to exit longs and exit shorts.
  •  As discussed in last analysis 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. Nifty opened with gap up and reacted from gann angle and showed an intraday correction. Now till we do not break Friday High Nifty bears have upperhand, Bulls now need to move above 8836 for a move back to 8931/9025/9100. Bears will get active below 8520 for a move back to 8464/8400/8320.

  • Total Future & Option trading volume at 4.29 Lakh core with total contract traded at 3.7 lakh , PCR @0.70
  • Nifty April Future Open Interest Volume is at 96 Lakh core with addition of 3.8 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @8093 closed above it.
  • 8900 CE is having Highest OI at 26  Lakh, resistance at 8900 followed by 9100 .8400-9100 CE added 35 Lakh in OI so bears added position in range of 8700-9000.FII bought 14.1 K CE and 9.1 K CE were shorted by them. Retailers bought 128 K CE and 116 K  CE were shorted by them.
  • 8000 PE OI@25 Lakhs having the highest OI strong support at 8000 followed by 7700. 7400-8000 PE added 22 Lakh in OI so bulls added position in range 7700 -8000 .FII bought 9.1 K PE and 10.7 K PE were shorted by them. Retailers bought 75 K PE and 60.9 K PE were shorted by them.
  • FII’s bought 355 cores and DII’s bought 1703 cores in cash segment.INR closed at 75.87

Buy Above 8700 Tgt 8765,8812 and 8860 (Nifty Spot Levels)

Sell Below 8520 Tgt 8470,8410 and 8340 (Nifty Spot Levels)

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