Nifty Forms Inside Bar,EOD Analysis

By | April 6, 2021 8:50 pm
  • FII bought 2.8 K contract of Index Future worth 149 cores, Net OI has decreased by 2.8 K contract 33 Long contract were added by FII and 2.8 K  Shorts were covered by FII. Net FII Long Short ratio at 1.25 so FII used fall to enter longs and exit shorts.
  • As Discussed in Last Analysis 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.Bears got whipsawed and Bulls above 14666 did 2 target on upside, we formed Inside Bar Pattern today suggesting another big move should be seen in next 2 trading sessions as again today we failed to close above gann angle. Now Bulls need to move above 14700 for a move back to 14754/14815/14876. Bears will get active below 14633 for a move back to 14573/14525/14476. We are completing important time cycle on 08 April so expect market to reamin voaltile till than. Till we do not close above Mercury Ingress High its Sell on Rise Market.
  • Total Future & Option trading volume at 34.8 Lakh core with total contract traded 1.50 lakh , PCR @0.92
  • Nifty April  Future Open Interest Volume is at 1.05 Cores with liquidation of 1.71 Lakh with increase in cost of carry suggesting LONG position were closed today, NF Rollover cost @14719 closed below it. 
  • 15000 CE is having Highest OI at 48.9 Lakh, resistance at 14900 followed by 15000.14800-15100 CE added 35 Lakh in OI so bears added in range of 14900-15000.FII bought 38.9 K CE and 24.6 K CE were shorted by them. Retailers bought 122 K CE and 115 K  CE were shorted by them.
  • 14500 PE OI@27 Lakhs having the highest OI strong support at 14500 followed by 14400. 14500-14700 PE added 31 Lakh in OI so bulls addded position in range 14400-14500.FII bought 32 K PE and 24.6 K PE were shorted by them. Retailers bought 150 K PE and 143 K PE were shorted by them.
  • FII’s sold 1092 cores and DII’s bought 416 cores in cash segment.INR closed at 73.67

Buy Above 14700 Tgt 14729,14777 and 14821 (Nifty Spot Levels)

Sell Below 14666 Tgt 14636,14600 and 14576 (Nifty Spot Levels)

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