Nifty forms Outside Bar,EOD Analysis

  • FII bought 19.2 K contract of Index Future worth 1283  cores, Net OI has decreased by 2.5 K contract, 8.2 K Long contract were added by FII and 10.8 K shorts were covered by FII. Net FII Long Short ratio at 0.90, So FII used fall to enter longs and exit shorts.
  •  As discussed in last analysis  Now as we have Mercury Ingress today  which generally lead to big move in Index so we should see big move in Next 2 days. Bulls need to move above 9132 for a move back to 9300/9410/9497. Bears will get active below 8900 for a move towards 8806/8700.Nifty open with gap up  bulls were able to enter above 9132 but missed our target by few points as high made was 9261 , Bears got whipsawed below 8900. 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.

  • Total Future & Option trading volume at 11 Lakh core with total contract traded at 3.1 lakh , PCR @0.99
  • Nifty April Future Open Interest Volume is at 0.91 Lakh core with liquidation of 6 Lakh with decrease in cost of carry suggesting short position were covered  today, NF Rollover cost @8093 closed above it.
  • 9000 CE is having Highest OI at 11.9 Lakh, resistance at 9000 followed by 9200.9000-9500 CE added 36 Lakh in OI so bears added position in range of 9000-9100.FII bought 10.4 K CE and 11.6 K CE were shorted by them. Retailers bought 125 K CE and 80 K CE were shorted by them.
  • 8500 PE OI@13.8 Lakhs having the highest OI strong support at 8700 followed by 8600. 8500-9000 PE added 11 Lakh in OI so bulls added position in range 8600 -8800 . FII bought 10.5 K PE and 10.5 K PE were shorted by them. Retailers bought 40 K PE and 28 K PE were shorted by them.
  • FII’s bought 1358 cores and DII’s sold 1097 cores in cash segment.INR closed at 76.71

Buy Above 8975 Tgt 9020,9067 and 9150 (Nifty Spot Levels)

Sell Below 8874 Tgt 8827,8780 and 8733(opens in a ne (Nifty Spot Levels)

Upper End of Expiry : 9157

Lower End of Expiry:  8692

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