Nifty EOD Analysis for 03 April

  • FII sold 20.7 K contract of Index Future worth 1197 cores, Net OI has decreased by 14.8 K contract, 2.9 K Long contract were covered by FII and 17.8 K shorts were added by FII. Net FII Long Short ratio at 0.37, So FII used fall to exit longs and enter shorts.
  •  As discussed in last analysis Now bulls need to move above 8634 for move towards 8678/8727/8800. Bears will get active below 8510 for a move back to 8460/8410/8358. We should get big move in next 2 days. We got the big move as per expectation and we did almost 300 points from 8510 . Now Bears need to break 8190 for a move towards 8100/8039/7950. Bulls will get active above 8311 for a move back to 8400/8493/8555.

  • Total Future & Option trading volume at 12.7 Lakh core with total contract traded at 2.5 lakh , PCR @0.72
  • Nifty April Future Open Interest Volume is at 96 Lakh core with liquidation of 3.1 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @8093 closed above it.
  • 8700 CE is having Highest OI at 16  Lakh, resistance at 8600 followed by 8700 .8000-8600 CE added 35 Lakh in OI so bears added position in range of 8600-8800.
  • 8000 PE OI@16 Lakhs having the highest OI strong support at 8000 followed by 7900. 8000-8400 PE added 10 Lakh in OI so bulls added position in range 8000 -8200 .
  • FII’s sold 1116 cores and DII’s sold 450 cores in cash segment.INR closed at 75.87

Buy Above 8300 Tgt 8346,8393 and 8444 (Nifty Spot Levels)

Sell Below 8190 Tgt 8150,8100 and 8050 (Nifty Spot Levels)

Leave a Reply