Nifty EOD Analysis for 07 April

  • FII bought 4.5 K contract of Index Future worth 278 cores, Net OI has decreased by 3.1 K contract, 713 Long contract were added by FII and 3.8 K shorts were covered by FII. Net FII Long Short ratio at 0.39, So FII used fall to enter exit longs and exit shorts.
  •  As discussed in last analysis 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. 8055 done below 8190 , Bears will get active below 8000 bears can see fall towards 7921/7833/7744. Bulls need to move above 8125 for a move back to 8200/8274/8325

  • Total Future & Option trading volume at 4.45 Lakh core with total contract traded at 2.5 lakh , PCR @0.79
  • Nifty April Future Open Interest Volume is at 95 Lakh core with liquidation of 0.68 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @8093 closed above it.
  • 8500 CE is having Highest OI at 18 Lakh, resistance at 8300 followed by 8500 .8000-8600 CE added 25 Lakh in OI so bears added position in range of 8300-8500.FII bought 12.4 K CE and 6.4 K CE were shorted by them. Retailers bought 124 K CE and 112 K CE were shorted by them.
  • 7800 PE OI@16 Lakhs having the highest OI strong support at 7900 followed by 7800. 7800-8400 PE added 12 Lakh in OI so bulls added position in range 7800 -8200 .FII bought 9.7 K PE and 9.2 K PE were shorted by them. Retailers bought 68 K PE and 63 K  PE were shorted by them.
  • FII’s sold 1960 cores and DII’s bought 226 cores in cash segment.INR closed at 76.70

Buy Above 8125 Tgt 8165,8210 and 8270 (Nifty Spot Levels)

Sell Below 8020 Tgt 7974,7920 and 7864 (Nifty Spot Levels)

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