Nifty pre-budget Analysis

FII’s sold 16.6 K contract of Index Future worth 1440 cores ,843 Long contract were added by FII’s and 17.4 K Short contracts were added by FII’s. Net Open Interest increased by 18.3 K contract, so fall in market was used by FII’s to enter long and enter short in Index futures. FII’s Long to Short Ratio at 2.3. Option Trading Strategy for Union Budget 2018

As Discussed in Last Analysis As close is above 11100 so bulls have upperhand and can move towards our target of 11202/11255/11308/11415. Bearish below 10992 for a move towards 10887/10783. Nifty bulls were unable to close above 11100 but were able to protect 10992 so we are back in the trading range after the rise of past few days, As seen in below update gann angle chart budget week we can see a swing of 300-400 points , Higher end of gann angle comes at 11498 and low gann angle comes at 10752 so this can be the possible range in coming few days. Bullish above 11100 for a move towards 11170/11265. Bearish below 10996 for a move towards 10900/10792. Bank Nifty Analysis shows small pullback below 27400,EOD Analysis

Nifty Feb Future Open Interest Volume is at 2.57 core with addition of 1.8Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @11048 closed above it Low made 11053

Total Future & Option trading volume at 3.52 Lakh core with total contract traded at 1.07 lakh , PCR @0.93

11500 CE is having Highest OI at 29.6 Lakh, resistance at 11400 followed by 11500 .10500-11500 CE added 20 Lakh in OI so bears added position in range of 11400-11500. FII bought 4.1 K CE and 4.3 K CE were shorted by them. Retail bought 75.3 K CE and 36.4 K CE were shorted by them.

11000 PE OI@37.6 lakhs having the highest OI strong support at 11000 followed by 10900 . 10500-11500 PE added 17 Lakh in OI so bulls added position in 10800-11000 PE. FII bought 12.9 K PE and 2.2 K shorted PE were covered by them. Retail bought 8.8 K PE and 23.2 K PE were shorted by them.

FII’s sold 105 cores and DII’s sold 282 cores in cash segment.INR closed at 63.61

Nifty Futures Trend Deciding level is 11080 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 11101 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level

Buy above 11070 Tgt 11100,11121 and 11155 (Nifty Spot Levels)