Nifty Trade Set up for 21 April

  • FII bought 3.9 K contract of Index Future worth 245 cores, Net OI has increased by 2.5 K contract, 3.2 K Long contract were added by FII and 696  shorts were covered by FII. Net FII Long Short ratio at 1, So FII used enter to enter longs and exit shorts.
  •  As discussed in last analysis  20 April is an important astro date,Bulls need to move above 9290 for a move back to 9332/9380/9428.Bears need a close below 9210 for a move back to 9170/9120/9070/9020. We have sun ingress today and break of today high and low can easily give 150-200 points in nifty. Bulls need to move above 9310 for a move back to 9390/9444/9555.Bears need a close below 9210 for a move back to 9170/9120/9070/9020.

  • Total Future & Option trading volume at 7.46 Lakh core with total contract traded at 2.5 lakh , PCR @0.89
  • Nifty April Future Open Interest Volume is at 0.95 Lakh core with addition of 1 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @8093 closed above it.
  • 9500 CE is having Highest OI at 8 Lakh, resistance at 9400 followed by 9500.9000-9500 CE added 13 Lakh in OI so bears added position in range of 9100-9200.FII bought 548 CE and 3 K CE were shorted by them. Retailers bought 89 K CE and 59 K  CE were shorted by them.
  • 9000 PE OI@7 Lakhs having the highest OI strong support at 9100 followed by 9000. 8500-9000 PE added 19 Lakh in OI so bulls added position in range 8600 -8800 .FII bought 906 PE and 795 PE were shorted by them. Retailers bought 56.6 K PE and 59.7 K PE were shorted by them.
  • FII’s sold 268 cores and DII’s sold 788 cores in cash segment.INR closed at 76.66

Buy Above 9290 Tgt 9324,9363 and 9410 (Nifty Spot Levels)

Sell Below 9215 Tgt 9190,9160 and 9130 (opens in a ne (Nifty Spot Levels)

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