Nifty Bulls does 10512 hit zone of resistance,EOD Analysis

• FII’s sold 3.3 K contract of Index Future worth 248 cores ,2.7 K Long contract were added by FII’s and 6.1 K Short contracts were liquidated by FII’s. Net Open Interest increased  by 8.8 K contract, so rise in market was used by FII’s to enter long and enter short in  Index futures.  FII’s Long to Short Ratio at 0.35 .Trading Resolution for Financial Year 2018-19

 

• As Discussed in Last Analysis   Low made was 10395 so bulls protected 10368 and once moved above 10430 did 10470 and heading towards 10512 in coming days.Bearish below 10390 for a move back to 10270/10220/10150 Break of todays high and low of anniversary date can easily 100-150 points. Nifty did 10512 above 10430 as we expected.Now bulls need a close above 10530 gann angle resistance as shown in below chart for the upmove to continue towards 10600. Easy part of move in done and now we will hit the supply zone. Bullish above 10530 for the move towards 10600/10666. Bearish below 10450 for a move back towards 10380/10320. Important intraday time for reversal can be at 1:35 Bank Nifty EOD Analysis for 16 April

 

• Nifty April Future Open Interest Volume is at 2.54 core with addition of 7 Lakh with increase in  cost of carry suggesting long position were closed today, NF Rollover cost @10156 closed above it.
  

• Total Future & Option trading volume at 5.78 Lakh core with total contract traded at 1.16 lakh , PCR @1.09

• 10500 CE  is having Highest OI  at 42.1 Lakh, resistance at 10500 followed by 10600 .10000-10600 CE liquidated 16.1 lakh in OI so bears covered  position  in range of 10300-10400. FII bought 11.6 K CE and 2.8 K CE were shorted  by them. Retail bought 35.6 K CE and 25 K CE  were shorted by them.
  

 

• 10300 PE OI@52.3 lakhs having the highest OI strong support at 10300 followed by 10100 . 10000-10500 PE added 19.4 Lakh in OI so bulls added added position in 10200-10300 PE. FII bought 7.6 K PE and 14.3 K PE were shorted by them. Retail bought 43 K PE and 52  K shorted  PE were covered by them.

 

• FII’s sold 399 cores  and DII’s bought  306 cores in cash segment.INR closed at 65.21
  

 

• Nifty Futures Trend Deciding level is 10490 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 10330. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level

Buy above 10490 Tgt 10512,10540 and 10561 (Nifty Spot Levels)

Sell below 10440 Tgt 10420,10400 and 10370 (Nifty Spot Levels)

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