Nifty Analysis for 16 April

By | April 16, 2021 8:30 am
  • FII bought 13.1 K contract of Index Future worth 1308 cores, Net OI has increased by 6 K contract 9.6 K Long contract were added by FII and 3.5 K  Shorts were covered by FII. Net FII Long Short ratio at 1.69  so FII used rise to enter longs and exit shorts.
  • As Discussed in Last Analysis Now as we will see a gap up open tommrow Bulls need to hold 14624 range for a move towards 14710/14777/14843. Bears below 14599 can see quick fall towards 14525/14444/14354/14285. Tommrow first 15 mins High and low will decide the trend for the day as we have important moon astro date today. 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.
  • Total Future & Option trading volume at 92.5 Lakh core with total contract traded 1.84 lakh , PCR @0.97
  • Nifty April  Future Open Interest Volume is at 1.09 Cores with liquidation of 1.1 Lakh with decrease in cost of carry suggesting SHORT position were closed today, NF Rollover cost @14719 closed above it. 
  • 14500 CE is having Highest OI at 16.2 Lakh, resistance at 14500 followed by 14600.14500-14700 CE added 17 Lakh in OI so bears added in range of 14500-14600.
  • 14400 PE OI@31.9 Lakhs having the highest OI strong support at 14500 followed by 14400. 141300-14500 PE added 27 Lakh in OI so bulls addded position in range 14400-14500.
  • FII’s bought 979 cores and DII’s sold  526 cores in cash segment.INR closed at 75.2

Buy Above 14600 Tgt 14636,14666 and 14699 (Nifty Spot Levels)

Sell Below 14545 Tgt 14512, 14480 and 14444 (Nifty Spot Levels)

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