Nifty Bulls waiting to close above 7058,EOD Analysis

• FII’s bought 13.3 K contract of Index Future worth 668 cores ,0.8 K Long contract were liquidated by FII’s and 14.1 K short contracts were liquidated by FII’s. Net Open Interest decreased  by 14.9 K contract, so Budget day rally/fall in market was used by FII’s to exit long and  exit shorts in  Index futures. Impact of the Union Budget on the Indian Stock Market
  

• As discussed in last analysis . As we have Budget on Monday move above 7058 will see quick move towards 7141/7252. On Downside break of 6930 can see move towards 6860/6830. Nifty moved above 7058 but unable to do target of 7141/7252, but downside break of 7930 did target of 6860/6830, Low made was 6825 :). We can see another big move today, levels remains the same close above 7058 Move towards 7141/7252  Bank Nifty bounces from gann support on Budget day,EOD Analysis

• Nifty March Future Open Interest Volume is at 1.80 core with liquidation of  4.4 Lakh with decrease in cost of carry suggesting long position were closed today, Rollover stands at 54 % and Rollover cost @7179.
  

• Total Future & Option trading volume was   at 3.85  Lakh core with total contract traded at 4.1 lakh , PCR @0.76,  .How To Identify Market Tops and Bottom
  

• 7500  CE  OI at 51 lakh , wall of resistance @ 7500 .7000/7300 PE  added 26 lakh so bears added aggressively above 7200 .FII bought  27.6  K CE longs and 34.5 K CE were shorted by them .Retail bought 67.8 K CE contracts and 25.2 K CE were shorted  by them.
  

• 7000 PE OI@49 lakhs having the highest OI strong support at 7000 . 7000/6800 PE  added 13 lakh so bulls trying to form a based around 7000.FII bought 15.5 K PE longs  and 5.7 K PE were shorted  by them .Retail bought 28.4 K PE contracts and 39 K  PE were shorted  by them.

• FII’s sold 2018 cores in Equity and DII’s bought 1445 cores in cash segment.INR closed at 68.41
  

• Nifty Futures Trend Deciding level is 7012 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 7026 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
  

Buy above 7020 Tgt 7050,7080 and 7112 (Nifty Spot Levels)

Sell below 6960 Tgt 6920,6860 and 6830 (Nifty Spot Levels)