Nifty Technical Analysis and Insights for 09 March

  • FII sold 7.1 K contract of Index Future worth 858 cores, Net OI has increased by 74 contract 3.5 K  Long contract were added by FII and 3.5 K Shorts were added by FII. Net FII Long Short ratio at 1.16 so FII used fall to exit longs and enter shorts.
  • As discussed in Last Analysis  Bulls above 14985 can see quick move towards 15045/15106/15168.Bears need to break 14923 for a move back to 14862/14801/14740. Low made was 14920 so bears unable to sustain below 14923 bulls above 14985 did 15045 on upside and we continue to see voaltile move in bank nifty due to SEBI margin rules, things should get sorted out in next few trading sessions. We have explained the importance of astro date of last few days, Plan remains the same Bulls above 14985 can see quick move towards 15045/15106/15168.Bears need to break 14923 for a move back to 14862/14801/14740.
  • Total Future & Option trading volume at 34 Lakh core with total contract traded 1.81 lakh , PCR @0.98
  • Nifty March Future Open Interest Volume is at 1.28  Cores with addition of 1.6 Lakh with decrease in cost of carry suggesting SHORT position were added today, NF Rollover cost @14938 closed below it. 
  • 15100 CE is having Highest OI at 13.9  Lakh, resistance at 15100 followed by 15200.15100-15300 CE added 24 Lakh in OI so bears added in range of 15000-15300.FII bought 17.1 K CE and 13.8 K CE were shorted by them. Retailers bought 262 K CE and 214 K  CE were shorted by them.
  • 15000 PE OI@20.3 Lakhs having the highest OI strong support at 15000 followed by 14900. 14700-15000 PE added 24 Lakh in OI so bulls addded position in range 14700-15000.FII bought 19.7 K PE and 20.5 K PE were shorted by them. Retailers bought 160 K PE and 172 K PE were shorted by them.
  • FII’s sold 1494 cores and DII’s bought 483 cores in cash segment.INR closed at 73.72

Buy Above 14976 Tgt 15001,15035 and 15071 (Nifty Spot Levels)

Sell Below 14915 Tgt 14885,14843 and 14805 (Nifty Spot Levels)

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