Nifty Fall 100 Point As Mercury Change Sign

    • FII’s bought 16.3 K contract of Index Future worth 1207 cores 17.4 K Long contract were added by FII’s and 1 K Short contracts were added by FII’s. Net Open Interest increased  by 18.4 K contract, so rise in Nifty was used by FII’s to enter long and enter short in  Index futures. FII’s Long to Short Ratio at 1.82.
  • As Discussed in Last Analysis: Now Bulls need to close above 10811 for up move to continue towards 10866/11910. Bears will get active below 11730 for a move back to 11666/11610. Nifty opened with a gap up made high of 11856 and corrected showing the effect of Mercury change, and did our target mentioned on twitter on downside.Now Bulls need to go above 11797 for a move back to 11850/11894. Bears will get active below 11735 for a move back to 11666/11610. As per Gann Cycle 11894 where Price Time Squaring is happening,Watch for this level.

  • Nifty April Future Open Interest Volume is at 1.58 core with addition of 1.2 Lakh with  decrease in  cost of carry suggesting short position were added today, NF Rollover cost @11537.
  • Total Future & Option trading volume at 21.63 Lakh core with total contract traded at 1.06 lakh , PCR @0.88
  • 11800 CE  is having Highest OI  at 25.2  Lakh, resistance at 11800  followed by 11900 .11000-11800 CE added 13 Lakh in OI so bears added position in range of 11600-11800. FII sold 37.8 K CE and 3.6 K shorted CE were covered by them. Retail sold 24.5 K CE and 63.8 K CE shorted CE were covered by them.
  • 11500 PE OI@28.4 Lakhs having the highest OI strong support at 11600 followed by 11500 . 11000-11600 PE added 10 Lakh in OI so bulls added position in range 11400-11500 PE.FII sold 669 PE and 8.7 K shorted PE were covered by them. Retail sold 285 K PE and 194 K  shorted PE were covered by them.

Buy above 11790  Tgt 11810,11830 and 11866 (Nifty Spot Levels)

Sell below 11735 Tgt 11710,11685 and 11666 (Nifty Spot Levels)