Mercury at Perihelion:Nifty rallies 600 Points

  • FII bought 26.5 K contract of Index Future worth 2134 cores, Net OI has decreased by 3.3 K contract 11.5 K Long contract were added by FII and 14.9 K Shorts were liquidated by FII. Net FII Long Short ratio at 2.9  so FII used fall to enter longs and exit shorts.
  • As discussed in Last Analysis  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. We have discussed the importance of Mercury at Perihelion and once 29 Jan High was taken out Bulls had a one sided rally and all target were done on upside.Perfect trade with a big reward and we also saw the importance of Astro date. Now Bulls need to move above 14341 for a move back to 14400/14448/14525/14610. Bears below 14185 can move back to 14093/13999.

  • Total Future & Option trading volume at 38.5 Lakh core with total contract traded 3.36  lakh , PCR @0.96
  • Nifty Feb Future Open Interest Volume is at 99.2 Cores with addition of 7.4  Lakh with increase in cost of carry suggesting LONG position were added today, NF Rollover cost @14217 closed above it. 
  • 14500 CE is having Highest OI at 20.8 Lakh, resistance at 14500 followed by 14600.14300-14600 CE added 14 Lakh in OI so bears added in range of 14300-14400.FII bought 36.6 K CE and 21 K CE were shorted by them. Retailers bought 71.7 K CE and 75.5 K  CE were shorted by them.
  • 14200 PE OI@18.9 Lakhs having the highest OI strong support at 14200 followed by 14100. 14000-14200 PE added 38 Lakh in OI so bulls addded position in range 14200-14000.FII bought 14 K PE and 14.9 K PE were shorted by them. Retailers bought 60  K PE and 39 K PE were shorted by them.
  • FII’s bought 1494  cores and DII’s sold 90 cores in cash segment.INR closed at 73.31

Buy Above 14341 Tgt 14400,14448 and 14525 (Nifty Spot Levels)

Sell Below 14185 Tgt 14144,14093 and 14040 (Nifty Spot Levels)

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