Nifty Forms Doji as Sun Mercury Conjunct

  • FII’s bought 9.5 K contract of Index Future worth 827 cores 6.6 K Long contract were added by FII’s and 2.8 K  Short contracts were covered by FII’s. Net Open Interest increased  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 1.72.
  • As Discussed in Last Analysis  Now Bulls need to close above 11500 above gann angle resistance for a move back to 11570/11610/11664. Bears will get active only below 11370 for a move back to 11312/11270. 16 Mar is very important date so we will see effect on Monday. We saw the effect of Mercury Mars Conjunction as Nifty faced resistance at gann angle and also formed doji. Now Fresh long should be taken above 11530 for a move towards 11585/11666. Bears will get active below 10410 for a move for a move back to 10376/10320/10270.

  • Nifty March Future Open Interest Volume is at 2.06 core with addition of 0.31 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 25.3 Lakh, resistance at 11500 followed by 11600 .10800-11500 CE liquidated 3.6 Lakh in OI so bears covered position in range of 11400-11500. FII bought 2.5 K CE and 15.8 K CE were shorted by them. Retail bought 135 K CE and 72.7 K CE were shorted by them.
  • 11300 PE OI@ 23.6 Lakhs having the highest OI strong support at 11300 followed by 11200 . 10500-11000 PE liquidated 13.2 Lakh in OI so bulls covered position in range 11200-11300 PE.FII bought 2.5 K PE and 15.8 K PE were shorted by them. Retail bought 51.4 K PE and 54.4 K PE were shorted  by them.
  • Total Future & Option trading volume at 10.46 Lakh core with total contract traded at 1.37 lakh , PCR @0.96

Buy above 11476 Tgt 11495,11520 and 11550 (Nifty Spot Levels)

Sell below 11410 Tgt 11385,11360 and 11339 (Nifty Spot Levels)