Nifty Pre Budget Analysis

  • FII sold 11.8 K contract of Index Future worth 1389 cores, Net OI has decreased by 55.7 K contract 29 K Long contract were liquidated by FII and 26.7 K Shorts were liquidated by FII. Net FII Long Short ratio at 1.62  so FII used fall to exit longs and exit shorts.
  • As discussed in Last Analysis  Nifty also did our target of 14081 as forecasted on 13 Jan,  Now As we will open gap down today watch out for 13824 we will get 150 points move above or below it. Bulls need to hold 13824 for a rally towards 13888/13924/13999. Bears below 13810 can see fall towards 13743/13686/13610.  It was a wild expiry and level helped us in capturing both upside and downside move, Now we have Mercury Perihelion happening tommrow suggesting another big move will be seen. Mercury is ruling plannet for nifty so tommrow high and low will be important for budget day trading. Bears need to break 13780  for a move back to 13721/13663/13604. Bulls above 13830 can rally back to 13889/13948/14007.

  • Total Future & Option trading volume at 41.5 Lakh core with total contract traded 2.06  lakh , PCR @0.96
  • Nifty Feb Future Open Interest Volume is at 0.67 Cores with addition of 26 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @14217 closed below it. 
  • 14000 CE is having Highest OI at 18 Lakh, resistance at 14000 followed by 14100.14000-14200 CE added 14 Lakh in OI so bears added in range of 14000-14200.
  • 13800 PE OI@25.1 Lakhs having the highest OI strong support at 13800 followed by 13700. 13700-14000 PE added 18 Lakh in OI so bulls addded position in range 14200-14000.
  • FII’s sold 1688 cores and DII’s sold 3 cores in cash segment.INR closed at 73.22

Buy Above 13830 Tgt 13866,13898 and 13930(Nifty Spot Levels)

Sell Below 13780 Tgt 13749,13729 and 13700 (Nifty Spot Levels)

2 thoughts on “Nifty Pre Budget Analysis”

  1. Sir, typically you will provide the “Intraday time for reversal” same for both Nifty & BankNifty, but today I observed them different. Kindly confirm.

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