Nifty Trade Set up for 18 March

  • 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.
  • As discussed in last analysis 9261 and 9025 are 2 important number which needs to be watched for next 300-500 points move in nifty. Today is an important astro date. Nifty bulls need to mvoe above 9261 for a move back to 9400/9501/9600. Bears will get active below 9150 for a move back to 9040/8900.High made was 9400 so bulls were able to do 1 target above 9261 and bears below 9150 did 8915 so excellent day for trading based on gann number. Bulls need to move above 9100 for a rally back to 9160/9261/9333/9400. Bears will get active below 8900 for a move towards 8850/8787/8700/8600.

  • Total Future & Option trading volume at 7.95 Lakh core with total contract traded at 3.96 lakh , PCR @0.58
  • Nifty March 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.
  • 9200 CE is having Highest OI at 22  Lakh, resistance at 9200 followed by 9400 .9000-9500 CE added 20 Lakh in OI so bears added position in range of 9200-9600.FII bought 2.4 K CE and 4.9 K CE were shorted by them. Retailers bought 62 K CE and 39 K  CE were shorted by them.
  • 8900 PE OI@21 Lakhs having the highest OI strong support at 8900 followed by 8800. 8800-9200 PE added 10 Lakh in OI so bulls added position in range 8800 -9000 .FII bought  9.6 K PE and 19.2 K PE were shorted by them. Retailers bought 31 K PE and 20 K PE were shorted by them.
  • FII’s sold 4004 cores and DII’s bought 3422 cores in cash segment.INR closed at 74.40

Buy Above 9032 Tgt 9095,9159 and 9261 (Nifty Spot Levels)

Sell Below 8960 Tgt 8900,8840 and 8787 (Nifty Spot Levels)

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