Nifty Continue to Hold 11500,EOD Analysis

  • FII’s bought 1.4 K contract of Index Future worth 51 cores 5.4 K Long contract were covered by FII’s and 6.9 K  Short contracts were added by FII’s. Net Open Interest increased  by 14.2 K contract, so rise in Nifty was used by FII’s to exit long and enter short in  Index futures.FII’s Long to Short Ratio at 1.72.
  • As Discussed in Last Analysis  High made today was 11542 and close above 11530, Till Bulls are holding 11500 bulls can move towards 11585/11666. Low made was 11503 so bulls are holding 11500 so we are all set to move towards 11585/11666. Bears will get active below 11470 for a move back to 11400/11333. 22 Mar is important Astrological Event so High and Low of 22 March for next big move.

  • Nifty March Future Open Interest Volume is at 2.05 core with liquidation  of 7.9 Lakh with  increase in  cost of carry suggesting short  position were added today, NF Rollover cost @10868 closed above it,rallied 620 points.
  • 11500 CE  is having Highest OI  at 26.9 Lakh, resistance at 11600 followed by 11700 .11000-11600 CE added 5.3 Lakh in OI so bears added position in range of 11500-11600. FII sold 7.4 K CE and 9.2 K shorted CE were covered by them. Retail sold 167 K CE and 119 K shorted CE were covered by them.
  • 11300 PE OI@ 23 Lakhs having the highest OI strong support at 11300 followed by 11200 . 11000-11600 PE added 19.5 Lakh in OI so bulls added position in range 11300-11400 PE.FII bought 9.1 K PE and 21.3 K shorted PE were covered by them. Retail sold 290 K PE and 179 K shorted  PE were covered by them.
  • Total Future & Option trading volume at 18.85 Lakh core with total contract traded at 1.03 lakh , PCR @0.76

Buy above 11540 Tgt 11570,11590 and 11610 (Nifty Spot Levels)

Sell below 11505 Tgt 11480,11460 and 11444 (Nifty Spot Levels)