Nifty Continue To Rally Holding 10821

  • FII’s bought 2.5 K contract of Index Future worth 169 cores 653 Long contract were covered by FII’s and 3.1 K  Short contracts were covered  by FII’s. Net Open Interest decreased  by 3.8 K contract, so rise in Nifty was used by FII’s to enter long and exit short in  Index futures. FII’s Long to Short Ratio at 1.05. When You fail as a trader
  • As Discussed in Last Analysis  Bulls will rally above 10821 for a move back to 10865/10890/10931. Low made was 10823 and high made was 10877 so NIfty bulls held on to 10821 and continue to rally and waiting for next target of 10890/10939/10985/11035.Nifty has been trading in range bound from last 26 week as per gann after 26 week we tend to see big move so high (10939)and low (10730) of last week are very important. Bears will get active below 10785 for a move back to 10730/10666/10610.Bulls will rally above 19890 for a move back to 10939/10985/11035.

  • Nifty March Future Open Interest Volume is at 1.42 core with liquidation of 0.13 Lakh with  increase in  cost of carry suggesting long position were closed today, NF Rollover cost @10868 closed above it,Low made 10870 and rallied 50 points as of now.
  • 11000 CE  is having Highest OI  at 18.8 Lakh, resistance at 10900 followed by 11000 .10400-11000 CE added 3.7 lakh in OI so bears  added position in range of 10800-10900. FII bought 14.8 K CE and 2.7 K CE were shorted by them. Retail bought 59.8  K CE and 55.5 K CE were shorted by them.
  • 10700 PE 25.3 Lakhs having the highest OI strong support at 10700 followed by 10600 . 10500-11000 PE added 9.7  Lakh in OI so bulls added position in range 10700-10600 PE.FII bought 21.4 K PE and 6.4 K PE were shorted by them. Retail bought 135 K PE and 116 K PE were shorted  by them.
  • Total Future & Option trading volume at 4.05  Lakh core with total contract traded at 1.31 lakh , PCR @0.92

Buy above 10890 Tgt 10910,10931 and 10955 (Nifty Spot Levels)

Sell below 10830 Tgt 10810,10785 and 10750 (Nifty Spot Levels)