Nifty Trading Plan for 23 April

By | April 22, 2021
  • FII bought 4.4 K contract of Index Future worth 437 cores, Net OI has decreased by 16.7 K contract 6.1 K Long contract were covered by FII and 10.6 K  Shorts were covered by FII. Net FII Long Short ratio at 1.96 so FII used fall to exit longs and exit shorts.
  • As Discussed in Last Analysis  Now Bears need to break 14167 for a quick move towards 14108/14049/13974. Bulls need to move above 14323 for a move towards 14377/14444/14525.  Bears got whipsawed in gap down and bulls once above 14323 did almsot 2 target on upside. Now as we have weekly closing tommrow bulls would like to see a close above 14527 and bears will like  to see a close around 14306 for a big move in next week as another improtant astro with mercury is forming. Till 14377 is held bulls will target towards 14477/14527. Bears below 14323 for a move back to 14288/14230/14385.
  • Total Future & Option trading volume at 84.8 Lakh core with total contract traded 1.61 lakh , PCR @0.98
  • Nifty April  Future Open Interest Volume is at 1.05 Cores with liquidation of 4.8 Lakh with decrease in cost of carry suggesting SHORT position were closed , NF Rollover cost @14719 closed below it. 
  • 14600 CE is having Highest OI at 16.8 Lakh, resistance at 14600 followed by 14700.14400-14600 CE added 7 Lakh in OI so bears added in range of 14400-14500. 
  • 14200 PE OI@19.2 Lakhs having the highest OI strong support at 14200 followed by 14100. 14100-14300 PE added 17 Lakh in OI so bulls addded position in range 14100-14200.
  • FII’s sold 909 cores and DII’s bought 849 cores in cash segment.INR closed at 75.10

Buy Above 14425 Tgt 14450,14476 and 14501 (Nifty Spot Levels)

Sell Below 14365 Tgt 14333, 14301 and 14275 (Nifty Spot Levels)

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