Nifty March Expiry Analysis

  • FII’s bought 14.5 K  contract of Index Future worth 1508 cores 14.5 K Long contract were added by FII’s and 7 K  Short contracts were covered  by FII’s. Net Open Interest increased  by 7.4 K contract, so fall  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.
  • As Discussed in Last Analysis Fresh long should be taken above 11525 for a move towards 11578/11610. Shorts will get activated below 11400 for a move back to 11352/11300. Longs got stopped out Low made was 11410 so bears were not able to break 11400 and levels given on twitter worked perfectly on short side. Fresh long should be taken above 11460 for a move towards 11511/11570. Shorts will get activated below 11400 for a move back to 11352/11300.

  • Nifty April Future Open Interest Volume is at 1.41 core with addition of 31 Lakh with  decrease in  cost of carry suggesting long position were closed today, NF Rollover cost @10868 closed above it,rallied 620 points.
  • 11600 CE  is having Highest OI  at 35.6 Lakh, resistance at 11550 followed by 11600 .11000-11600 CE liquidated 9.4 Lakh in OI so bears covered position in range of 11500-11600. FII sold 9.9 K CE and 16.7 K CE were shorted by them. Retail bought 116 K CE and 43.1 K  CE were shorted by them.
  • 11400 PE OI@ 26.5 Lakhs having the highest OI strong support at 11400 followed by 11300 . 11000-11600 PE liquidated 31 Lakh in OI so bulls covered position in range 11300-11400 PE.FII bought 15.4 K PE and 18.4 K PE were shorted by them. Retail sold 39.4 K PE and 26 K shorted  PE were covered by them.
  • Total Future & Option trading volume at 17.20 Lakh core with total contract traded at 1.66 lakh , PCR @0.98

Buy above 11470 Tgt 11490,11517 and 11545 (Nifty Spot Levels)

Sell below 11421 Tgt 11410,11385 and 11357 (Nifty Spot Levels)

Upper End of Expiry :11547

Lower End of Expiry :11343