Nifty EOD Analysis

  • FII’s sold 8.4 K  contract of Index Future worth 666 cores 7.4 K Long contract were added by FII’s and 1 K  Short contracts were covered  by FII’s. Net Open Interest decreased  by 6.4 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 1.74. Strong Emotions in Trading
  • As Discussed in Last Analysis  We have important astro event as discussed in below video, I do not want to predict what side the move will be, Historically it leads to change in trend as discussed in example below, But as a trade I can never be biased towards the market. Long above 11610 for a move back to 11664/11740. Bearish below 11517 for a move towards 11449/11400. Bulls were able to close above 11610, as it was an important astro date Today’s High and low will be very important break on any side can give move of 75-125 points easily, Long above 10632 for a move back to 10666/10740. Bearish below 10565 for a move towards 10512/10470.

  • Nifty April Future Open Interest Volume is at 1.64 core with liquidation  of 6.2 Lakh with  decrease in  cost of carry suggesting long position were closed today, NF Rollover cost @11537.
  • Total Future & Option trading volume at 4.97 Lakh core with total contract traded at 1 lakh , PCR @1.04
  • 11800 CE  is having Highest OI  at 12.1 Lakh, resistance at 11700  followed by 11800 .11000-11800 CE added 3.3 Lakh in OI so bears added position in range of 11600-11800. FII bought 7.7 K CE and 10.4 K CE were shorted by them. Retail bought 99 K CE and 72.5 K CE were shorted by them
  • 11500 PE OI@ 21.3 Lakhs having the highest OI strong support at 11400 followed by 11300 . 11000-11600 PE added 14 Lakh in OI so bulls added position in range 11300-11400 PE.FII bought 19 K PE and 9 K PE were shorted by them. Retail bought 56.7 K PE and 55.8 K PE were shorted  by them.

Buy above 11632 Tgt 11660,11686 and 11706 (Nifty Spot Levels)

Sell below 11599 Tgt 11585,11570 and 11545(Nifty Spot Levels)