NIFTY Rally continues,EOD Analysis

By | March 2, 2021 11:18 pm
  • FII sold 17.9 K contract of Index Future worth 1893 cores, Net OI has decreased by 15 K contract 5.9 K  Long contract were covered by FII and 12 K Shorts were added by FII. Net FII Long Short ratio at 1.4 so FII used fall to exit longs and enter shorts.
  • As discussed in Last Analysis  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. Low made was 14760 and once above 14812 bulls did 2 target on upside, Now Bulls need a close above 14970 for a quick move towards 15055/15101/15170. Bears below 14855 can see quick fall towards 14800/14729/14666.
  • Total Future & Option trading volume at 35.6 Lakh core with total contract traded 1.83 lakh , PCR @1.01
  • Nifty March Future Open Interest Volume is at 1.01  Cores with addition of 3.8 Lakh with increase in cost of carry suggesting SHORT position were closed today, NF Rollover cost @14938 closed below it. 
  • 15000 CE is having Highest OI at 32.6  Lakh, resistance at 14900 followed by 15000.14700-14900 CE added 14 Lakh in OI so bears added in range of 14700-14900.FII bought 1.7 K CE and 1.3 K CE were shorted by them. Retailers bought 35.3 K CE and 61.3 K  CE were shorted by them.
  • 14600 PE OI@31.2 Lakhs having the highest OI strong support at 14600 followed by 14500. 14400-14600 PE added 14.9 Lakh in OI so bulls addded position in range 14400-14600.FII bought 9.1 K PE and 24.8 K PE were shorted by them. Retailers bought 150 K PE and 123 K PE were shorted by them.
  • FII’s bought 2223 cores and DII’s sold 854 cores in cash segment.INR closed at 73.70

Buy Above 14960 Tgt 14999,15025 and 15055(Nifty Spot Levels)

Sell Below 14898 Tgt 14870,14843 and 14829 (Nifty Spot Levels)

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