Nifty Technical Analysis and Insights for 08 March

• FII bought 1.1 K contract of Index Future worth 67 cores, Net OI has increased by 1.1 K contract 5 K  Long contract were added by FII and 3.8 K Shorts were added by FII. Net FII Long Short ratio at 1.28 so FII used fall to enter longs and enter shorts.

• As discussed in Last Analysis As today was important Astro date so today high and low break will decide next 200-250 points move in nifty. Bulls need to move above  15110 for a move towards 15164/15225/15287 .Bears need to break 15079 for a move towards 15018/14956/14895. Nifty opened with gap down but price made high of 15092 and once 15079 was broken all target were done on downside, As per Neural as discussed in below video we can see some turn in prices so Bulls above 14985 can see quick move towards 15045/15106/15168.Bears need to break 14923 for a move back to 14862/14801/14740.

• Intraday time for reversal can be at 9:35/10:21/11:07/12:34/1:36/2:21 How to Find and Trade Intraday Reversal Times

• Total Future & Option trading volume at 97.9 Lakh core with total contract traded 2.06 lakh , PCR @0.91

• Nifty March Future Open Interest Volume is at 1.23  Cores with addition of 20 Lakh with decrease in cost of carry suggesting SHORT position were added today, NF Rollover cost @14938 closed below it. 

• 15300 CE is having Highest OI at 12.6  Lakh, resistance at 15300 followed by 15400.15300-15500 CE added 14 Lakh in OI so bears added in range of 14700-14900.FII bought 36 K CE and 43 K CE were shorted by them. Retailers bought 373 K CE and 338 K  CE were shorted by them.

• 15000 PE OI@11.2 Lakhs having the highest OI strong support at 15000 followed by 14900. 15100-15300 PE added 14.9 Lakh in OI so bulls addded position in range 15100-15000.FII bought 9.1 K PE and 24.8 K PE were shorted by them. Retailers bought 150 K PE and 123 K PE were shorted by them.

• FII’s sold 223 cores and DII’s sold 788 cores in cash segment.INR closed at 73.70

• Nifty Futures Trend Deciding level is 15116 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 14970 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level

Buy Above 14985 Tgt 15012,15055 and 15100 (Nifty Spot Levels)

Sell Below 14951 Tgt 14920,14885 and 14840 (Nifty Spot Levels)