Nifty Trade Set up for 19 March

  • FII bought 4.5 K contract of Index Future worth 299 cores, Net OI has decreased by 20 K contract, 12.5 K Long contract were added by FII and 7.9 K shorts were added by FII. Net FII Long Short ratio at 0.50, So FII used fall to enter longs and enter shorts.
  • As discussed in last analysis 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. All bearish target done below 8900 and we closed below 8480, Now Bears till below 8480 can see fall extending towards 8200/8000. 8000 is important gann number. Bulls need a move above 8500 for a move back to 8600/8721/8900. Lot of traders are looking for bottom look for 2 green candles on daily time frame for any short term bottom.

  • Total Future & Option trading volume at 10 Lakh core with total contract traded at 3.96 lakh , PCR @0.58
  • Nifty March Future Open Interest Volume is at 1.59  Lakh core with liquidation of 9 Lakh with decrease in cost of carry suggesting short position were closed today, NF Rollover cost @11769 closed below it.
  • 8800 CE is having Highest OI at 23  Lakh, resistance at 8800 followed by 9000 .8500-9500 CE added 30 Lakh in OI so bears added position in range of 8500-8800.FII bought 9.8 K CE and 8.2 K CE were shorted by them. Retailers bought 107 K CE and 65 K  CE were shorted by them.
  • 8200 PE OI@21 Lakhs having the highest OI strong support at 8200 followed by 8000. 8000-8200 PE added 10 Lakh in OI so bulls added position in range 8200 -8000 .FII bought 290  PE and 3.5 K PE were shorted by them. Retailers bought 9.5 K PE and 10 K PE were shorted by them.
  • FII’s sold 5085 cores and DII’s bought 3636 cores in cash segment.INR closed at 74.37

Buy Above 8555 Tgt 8610,8666 and 8721 (Nifty Spot Levels)

Sell Below 8300 Tgt 8250,8190 and 8100 (Nifty Spot Levels)

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