Nifty Analysis for 24 March

By | March 23, 2021 11:36 pm
  • FII bought 5.7 K contract of Index Future worth 439 cores, Net OI has decreased by 3.6 K contract 1 K  Long contract were added by FII and 4.6 K  Shorts were added by FII. Net FII Long Short ratio at 1.86 so FII used fall to enter longs and exit shorts.
  • As Discussed in Last Analysis  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.Bears unable to break 14684 and bulls once 14777 did 2 target on upside. Now bulls need to break 14896 for the upmove towards 14971/15025/15100. Bears below 14721 can see quick fall towards 14666/14610/14555. Tommorow we will complete 1 year from the low made of 24 March 2020.
  • Total Future & Option trading volume at 29 Lakh core with total contract traded 1.89 lakh , PCR @0.83
  • Nifty April  Future Open Interest Volume is at 0.58 Cores with addition of 17.7 Lakh with increase in cost of carry suggesting LONG position were added today, NF Rollover cost @14938 closed below it. 
  • 14800 CE is having Highest OI at 31.8  Lakh, resistance at 14800 followed by 14900.14700-14900 CE added 24 Lakh in OI so bears added in range of 15300-15500.FII bought 17.6 K CE and 11.6 K CE were shorted by them. Retailers sold  83 K CE and 39 K shorted CE were covered by them.
  • 14600 PE OI@45 Lakhs having the highest OI strong support at 14500 followed by 14400. 14500-14700 PE added 14 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 108  cores and DII’s sold 529 cores in cash segment.INR closed at 72.54

Buy Above 14843 Tgt 14878,14900 and 14945 (Nifty Spot Levels)

Sell Below 14790 Tgt 14777,14743 and 14710 (Nifty Spot Levels)

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