Nifty technical setup after Budget

• FII’s sold 1097 contract of Index Future worth 169 cores ,5.1 K Long contract were covered by FII’s and 4K Short contracts were covered by FII’s. Net Open Interest decreased  by 9.2 K contract, so fall in market was used by FII’s to exit long and exit short in  Index futures. FII’s Long to Short Ratio at 2.4. What not to do on Budget Day Trading

 

• As Discussed in Last Analysis    Bulls need a close above 11100 for the uptrend to continue towards 11171/11202/11255/11333/11415,Below 10996 we can see quick fall towards 10886/10782. Important intraday time for reversal can be at 11/12:30/2:45. As soon as 10996 was broken Low made today was 10878 so bears did the target of 10886 and we saw a good bounce back. High made today was 11117 but were not able to close above 11100 for 5 mins any point during the day. Budget turned out to be non event, we will see the major move tommrow. Bulls need a close above 11100 for the uptrend to continue towards 11171/11202/11255/11333/11415,Below 10977 we can see quick fall towards 10920/10878.   Important intraday time for reversal can be at 10:18/12:18/2:34 Bank Nifty technical setup after Budget

 

• Nifty Feb Future Open Interest Volume is at 2.38 core with liquidation of 7.9 Lakh with decrease in  cost of carry suggesting short position were added today, NF Rollover cost @11048  closed below it.
  

 

• Total Future & Option trading volume at 15.2 Lakh core with total contract traded at 3.7 lakh , PCR @0.82

 

• 11500 CE  is having Highest OI  at 61.2 Lakh, resistance at 11400 followed by 11500 .10500-11500 CE added 42 Lakh in OI so bears added position  in range of 11200-11500 so resistance at higher end. FII sold 4.5 K CE and 24.1 K  CE were shorted  by them. Retail bought 45 K CE and 21.2 K shorted CE were covered by them.
  

 

• 11000 PE OI@44 lakhs having the highest OI strong support at 11000 followed by 10700 . 10500-11500 PE added 21.6 Lakh in OI so bulls added  position in 10800-11000 PE. FII sold 4.8 K PE and 822 shorted PE were covered by them. Retail bought 2.1 K PE and 16.6 K shorted PE were covered by them.
  

 

• FII’s bought 1099 cores  and DII’s sold 358 cores in cash segment.INR closed at 64.01
  

• Nifty Futures Trend Deciding level is 11024 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 11075 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level

Buy above 11020 Tgt 11050,11075 and 11100 (Nifty Spot Levels)

Sell below 10980 Tgt 10930,10890 and 10830 (Nifty Spot Levels)

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