Nifty Analysis for 23 March

  • FII bought 882 contract of Index Future worth 18 cores, Net OI has decreased by 6.8 K contract 2.9 K  Long contract were added by FII and 3.8 K  Shorts were added by FII. Net FII Long Short ratio at 1.66 so FII used fall to enter longs and enter shorts.
  • As Discussed in Last Analysis  For uptrend to continue Bulls need to move above 14790 for a move back to 14833/14894/14955/15077. Bears will get active below 14684 for a move back to 14627/14569/14512/14666. High made was 14764 so bulls unable to break 14790 and bears once below 14684 did 14627 pn downside. Now Bulls need to move above 14777 for a move back to 14833/14894/14955/15077. Bears will get active below 14684 for a move back to 14627/14569/14512/14666.
  • Total Future & Option trading volume at 29 Lakh core with total contract traded 1.51 lakh , PCR @0.92
  • Nifty March Future Open Interest Volume is at 0.79 Cores with liqudiation of 7.8 Lakh with decrease in cost of carry suggesting SHORT position were closed today, NF Rollover cost @14938 closed below it. 
  • 14800 CE is having Highest OI at 21.8  Lakh, resistance at 14800 followed by 14900.14700-14900 CE added 14 Lakh in OI so bears added in range of 15300-15500.FII bought 33.7 K CE and 35.3 K CE were shorted by them. Retailers bought 252 K CE and 206 K  CE were shorted by them.
  • 14500 PE OI@40 Lakhs having the highest OI strong support at 14500 followed by 14400. 14500-14700 PE added 24 Lakh in OI so bulls addded position in range 14500-14600.FII bought 28 K PE and 12.7 K PE were shorted by them. Retailers bought 92 K PE and 99 K PE were shorted by them.
  • FII’s sold 786 cores and DII’s bought 542 cores in cash segment.INR closed at 72.41

Buy Above 14750 Tgt 14777,14800 and 14825(Nifty Spot Levels)

Sell Below 14714 Tgt 14685,14640 and 14610 (Nifty Spot Levels)

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