NIFTY forms Inside Bar on Gann Turn Date

  • FII bought 13.1 K contract of Index Future worth 1498 cores, Net OI has decreased by 15 K contract 973  Long contract were covered by FII and 14 K Shorts were covered by FII. Net FII Long Short ratio at 2 so FII used fall to exit longs and exit shorts.
  • As discussed in Last Analysis Now bears need to break 14513 for a move towards 14454/14400/14358. Bulls have there chance above 14585 for a quick move towards 14638/14693/147543. 01 March is important gann trend change date.Low made today was  14638 so nifty did not come near our level. Nifty has formed Inside Bar Pattern and gann turn date as shown in below video break of high and low will decide the next 350 point move in nifty. Bulls need to move above  14812 for a move towards 14888/14945/15001 .Bears need to break 14714 for a move towards 14666/14610/14555.

  • Total Future & Option trading volume at 26.6 Lakh core with total contract traded 1.60 lakh , PCR @0.95
  • Nifty March Future Open Interest Volume is at 0.96 Cores with liquidation of 10.6 Lakh with increase in cost of carry suggesting SHORT position were closed today, NF Rollover cost @14938 closed below it. 
  • 14800 CE is having Highest OI at 27.6  Lakh, resistance at 14800 followed by 14900.14700-14900 CE added 24 Lakh in OI so bears added in range of 14700-14900.FII bought 15.6 K CE and 4.7 K CE were shorted by them. Retailers bought 54.4 K CE and 94.3 K  CE were shorted by them.
  • 14500 PE OI@21.2 Lakhs having the highest OI strong support at 14500 followed by 14400. 14400-14600 PE added 24.9 Lakh in OI so bulls addded position in range 14400-14500.FII bought 7.4 K PE and 22.7 K PE were shorted by them. Retailers bought 196 K PE and 165 K PE were shorted by them.
  • FII’s bought 125 cores and DII’s sold 194 cores in cash segment.INR closed at 73.74

Buy Above 14777 Tgt 14799,14832 and 14864(Nifty Spot Levels)

Sell Below 14743 Tgt 14722,14699 and 14666 (Nifty Spot Levels)

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