NIFTY EOD Analysis for 24 Feb

By | February 24, 2021 8:43 am
  • FII sold 1.5 K contract of Index Future worth 159 cores, Net OI has increased by 1.9 K contract 199 Long contract were added by FII and 1.7 K Shorts were added by FII. Net FII Long Short ratio at 1.73 so FII used rise to enter longs and enter shorts.
  • As discussed in Last Analysis  Now Nifty Bulls need to move above  14729 for a move back to 14773/14822/14888, Bears will get active below 14630 for a move back to 14585/14537/14444. Bulls were able to do 2 target on upside and bears were unable to break 14630 in a volatile trading session and we continue to trade below the Gann angle support zone as shown in below chart. Nifty Bulls need to move above  14773 for a move back to 14833/14894/14955, Bears will get active below 14733 for a move back to 14672/14612/14551.
  • Total Future & Option trading volume at 40.3 Lakh core with total contract traded 1.85 lakh , PCR @0.98
  • Nifty March Future Open Interest Volume is at .45 Cores with addition of 14.8  Lakh with increase in cost of carry suggesting LONG position were added today, NF Rollover cost @14217 closed above it. 
  • 14900 CE is having Highest OI at 28.7 Lakh, resistance at 14900 followed by 15000.15000-15300 CE added 24 Lakh in OI so bears added in range of 14900-15100.FII bought 32.5 K CE and 17.6 K CE were shorted by them. Retailers bought 39.6 K CE and 56 K  CE were shorted by them.
  • 14600 PE OI@35 Lakhs having the highest OI strong support at 14600 followed by 14500. 14500-14800 PE added 18 Lakh in OI so bulls addded position in range 14500-14600.FII bought 20 K PE and 15.1 K PE were shorted by them. Retailers bought 110 K PE and 106 K PE were shorted by them.
  • FII’s sold 1569 cores and DII’s bought 216 cores in cash segment.INR closed at 72.32

Buy Above 14773 Tgt 14800,14824 and 14850 (Nifty Spot Levels)

Sell Below 14733 Tgt 14700,14672 and 14630  (Nifty Spot Levels)

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