Nifty Crashes as Mercury Ingress Shows Effect

  • FII sold 17.4 K contract of Index Future worth 1802 cores, Net OI has increased by 3.9 K contract 6.7 K  Long contract were covered by FII and 10.6 K  Shorts were covered by FII. Net FII Long Short ratio at 1.19 so FII used fall to exit longs and enter shorts.
  • As Discussed in Last Analysis 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.All Bearish target done on downside once price traded below 14799, and we saw the impact of Mercury Ingress Nifty crashing 300 points. Now Bulls need to move above 14666 for a move back to 14729/14785/14843. Bears below 14610 can see quick fall towards 14555/14485/14410.
  • Total Future & Option trading volume at 29.6 Lakh core with total contract traded 2.09 lakh , PCR @0.92
  • Nifty April  Future Open Interest Volume is at 1.07 Cores with addition of 0.17 Lakh with increase in cost of carry suggesting LONG position were closed today, NF Rollover cost @14719 closed below it. 
  • 14900 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.FII bought 50.8 K CE and 60.6 K CE were shorted by them. Retailers bought 475 K CE and 385 K  CE were shorted by them.
  • 14500 PE OI@35 Lakhs having the highest OI strong support at 14500 followed by 14400. 14500-14700 PE added 14 Lakh in OI so bulls addded position in range 14400-14500.FII bought 34.6 K PE and 26.7 K PE were shorted by them. Retailers bought 159 K PE and 176 K PE were shorted by them.
  • FII’s sold 931 cores and DII’s bought 75 cores in cash segment.INR closed at 73.54

Buy Above 14655 Tgt 14680,14714 and 14743 (Nifty Spot Levels)

Sell Below 14610 Tgt 14585,14555 and 14512 (Nifty Spot Levels)

Leave a Reply