Nifty Analysis as Mercury goes Ingress

  • FII bought 4.5  K contract of Index Future worth 445 cores, Net OI has decreased by 4.9 K contract 214  Long contract were covered by FII and 4.7 K  Shorts were covered by FII. Net FII Long Short ratio at 1.63 so FII used fall to exit longs and exit shorts.
  • As Discussed in Last Analysis  Bulls need to move above 14743 for a quick move towards 14811/14868/14943 on upside. Bears below 14666 can see a quick downmove towards 14610/14525. 2 Bullish target done on upside once price traded above 14743 and last once should be done by Monday, We have imporant astro date coming tommrow Mercury Ingress so we should see the effect on Monday. Bulls need to move above 14943 for a move back to 15012/15068/15125. Bears below 14799 can see quick fall towards 14743/14666/14610.
  • Total Future & Option trading volume at 75.3 Lakh core with total contract traded 1.52 lakh , PCR @0.92
  • Nifty April  Future Open Interest Volume is at 1.07 Cores with liquidation of 6.5 Lakh with increase in cost of carry suggesting LONG position were closed today, NF Rollover cost @14719 closed above it. 
  • 15000 CE is having Highest OI at 12.8  Lakh, resistance at 15000 followed by 15100.14800-15100 CE added 14 Lakh in OI so bears added in range of 15300-15500.
  • 14600 PE OI@35 Lakhs having the highest OI strong support at 14600 followed by 14500. 14500-14700 PE added 24 Lakh in OI so bulls addded position in range 14500-14600.
  • FII’s bought 149 cores and DII’s sold 296 cores in cash segment.INR closed at 73.44

Buy Above 14943 Tgt 14980,15012 and 15045 (Nifty Spot Levels)

Sell Below 14840 Tgt 14826,14800 and 14777 (Nifty Spot Levels)

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