Nifty EOD Analysis for 17 April

  • FII bought 6.5 K contract of Index Future worth 360 cores, Net OI has increased by 2.8 K contract, 4.7 K Long contract were added by FII and 1.8 K shorts were covered by FII. Net FII Long Short ratio at 1, So FII used rise to enter longs and exit shorts.
  •  As discussed in last analysis  We have weekly expiry tommrow Bulls need to move above 8980 for a move 9020/9067/9150. Bears will get active below 8860 for a move back to 8780/8733/8686. Bears again got whipsawed, Bulls did 1 target on upside.As we have weekly closing bull need to move above 9057 for a move back to 9105/9152/9207. Bears will get active below 8955 for a move back to 8910/8863/8816.

  • Total Future & Option trading volume at 19.6 Lakh core with total contract traded at 2.8 lakh , PCR @0.85
  • Nifty April Future Open Interest Volume is at 0.94 Lakh core with addition of 2.8 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @8093 closed above it.
  • 9500 CE is having Highest OI at 6 Lakh, resistance at 9300 followed by 9500.9000-9500 CE added 23 Lakh in OI so bears added position in range of 9100-9200.
  • 8500 PE OI@7 Lakhs having the highest OI strong support at 8700 followed by 8600. 8500-9000 PE added 19 Lakh in OI so bulls added position in range 8600 -8800 .
  • FII’s sold 2920 cores and DII’s bought 1321 cores in cash segment.INR closed at 77.02

Buy Above 9025 Tgt 9055,9090 and 9150 (Nifty Spot Levels)

Sell Below 8950 Tgt 8910,8860 and 8800(opens in a ne (Nifty Spot Levels)

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