Venus Ingress Impact on Nifty

  • FII sold 2.9 K contract of Index Future worth 322 cores, Net OI has decreased by 5.1 K contract 4  K Long contract were covered by FII and 1 K Shorts were covered by FII. Net FII Long Short ratio at 1.05 so FII used rise to exit longs and exit shorts.
  • As Discussed in Last Analysis Today we close above mercury ingress high, Till 14723 is held bulls can rally towards 14775/14825/14900. Bears will get active below 14676 for a move back to 14610/14561/14512. All Bullish target done, Today we have Venus Ingress suggesting another big move should be seen in next 2 trading sessions. Bulls need to move above 14975 for a move towards 15046/15100. Bears below 14888 can see quick fall towards 14826/14777/14729.
  • Total Future & Option trading volume at 25.2 Lakh core with total contract traded 0.86 lakh , PCR @0.90
  • Nifty April  Future Open Interest Volume is at 1.11 Cores with liquidation of 0.84 Lakh with increase in cost of carry suggesting LONG position were closed today, NF Rollover cost @14703 closed above it. 
  • 15000 CE is having Highest OI at 34 Lakh, resistance at 15000 followed by 15100. 14900-15100 CE added 30 Lakh in OI so bears covered in range of 14900-15100. FII bought 39 K CE and 23.9 K CE were shorted by them. Retailers bought 175 K CE and 165 K CE were shorted by them.
  • 14800 PE OI@28.2 Lakhs having the highest OI strong support at 14800 followed by 14700. 14700-14900 PE added 43 Lakh in OI so bulls addded position in range 14700-14800.FII bought 38.4 K PE and 26.3 K PE were shorted by them. Retailers bought 233 K PE and 217 K PE were shorted by them.
  • FII’s bought 584 cores and DII’s sold 476 cores in cash segment.INR closed at 73.55

Buy Above 14967 Tgt 15000,15030 and 15075 (Nifty Spot Levels)

Sell Below 14910 Tgt 14885, 14850 and 14820 (Nifty Spot Levels)

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