Nifty Rallies 10% on Astro Date

  • FII bought 38.5 K contract of Index Future worth 2368 cores, Net OI has increased by 323 contract, 19.4  Long contract were added by FII and 19.1 K shorts were covered by FII. Net FII Long Short ratio at 0.74, So FII used rise to enter longs and exit shorts.
  •  As discussed in last analysis  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.Nifty opened with gap up and rallied almost 10% on important time cycle date . Bulls now need to move above 8836 for a move back to 8888/8931/9000. Bears will get active below 8720 for a move back to 8657/8600/8525. We have closed above Gann Angle today bulls need to close above 8700 for this breakout to continue.

  • Total Future & Option trading volume at 7.65 Lakh core with total contract traded at 3.35 lakh , PCR @0.79
  • Nifty April Future Open Interest Volume is at 95 Lakh core with liquidation of 0.38 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @8093 closed above it.
  • 9000 CE is having Highest OI at 18 Lakh, resistance at 9000 followed by 9300.8900-9300 CE added 15 Lakh in OI so bears added position in range of 8900-9300.FII bought 5.2 K CE and 456  CE were shorted by them. Retailers sold 43 K CE and 45 K shorted CE were covered  by them.
  • 8300 PE OI@17 Lakhs having the highest OI strong support at 8400 followed by 8300. 8000-8600 PE added 12 Lakh in OI so bulls added position in range 8000 -8400 .FII bought 1.3 K PE and 20 K PE were shorted by them. Retailers bought 172 K PE and 116 K  PE were shorted by them.
  • FII’s bought 741 cores and DII’s bought 422 cores in cash segment.INR closed at 76.15

Buy Above 8836 Tgt 8888,8931 and 9000 (Nifty Spot Levels)

Sell Below 8720 Tgt 8666,8590 and 8525 (Nifty Spot Levels)

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