Nifty Analysis as Mercury at Superior Conjunction

By | April 18, 2021 10:30 am
  • FII sold 1.2 K contract of Index Future worth 54 cores, Net OI has increased by 6 K contract 19.9 K Long contract were added by FII and 10.5 K  Shorts were added by FII. Net FII Long Short ratio at 1.54  so FII used rise to enter longs and enter shorts.
  • As Discussed in Last Analysis  As we have important moon cycle yesterday, Bulls now need to move above 14610 for a move towards 14666/14729/14843. Bears below 14508 can see quick fall towards 14440/14377/14323.  Bulls were able to do 1 target on upside, Monday Mercury at Superior Conjunction so again big move will be seen in next 2 trading sessions.  Bulls now need to move above 14636 for a move towards 14699/14743/14829. Bears below 14585 can see quick fall towards 14525/14444/14377.
  • Total Future & Option trading volume at 21.7 Lakh core with total contract traded 1.39 lakh , PCR @0.88
  • Nifty April  Future Open Interest Volume is at 1.17 Cores with addition of 7.4 Lakh with decrease in cost of carry suggesting SHORT position were added, NF Rollover cost @14719 closed below it. 
  • 15000 CE is having Highest OI at 26.8 Lakh, resistance at 14800 followed by 15000.14700-15000 CE added 27 Lakh in OI so bears added in range of 14700-14800. FII bought 47.2 K CE and 25.2 K CE were shorted by them. Retailers bought 186 K CE and 204 K  CE were shorted by them.
  • 14500 PE OI@19.2 Lakhs having the highest OI strong support at 14500 followed by 14400. 14300-14500 PE added 17 Lakh in OI so bulls addded position in range 14400-14500.FII bought 40 K PE and 35.2 K PE were shorted by them. Retailers bought 197 K PE and 215 K PE were shorted by them.
  • FII’s bought 437 cores and DII’s bought 657 cores in cash segment.INR closed at 74.55

Buy Above 14636 Tgt 14666,14699 and 14729 (Nifty Spot Levels)

Sell Below 14585 Tgt 14555, 14525 and 14499 (Nifty Spot Levels)

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