Nifty Bulls get whipsaw above 10600,EOD Analysis

• FII’s bought 1.9 K contract of Index Future worth 176 cores ,3.3 K Long contract were added by FII’s and 1.4 K Short contracts were added by FII’s. Net Open Interest increased  by 4.8 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 0.66 .Trading Resolution for Financial Year 2018-19

 

• As Discussed in Last Analysis  Range trade continue with neither bulls bear giving ground, 23 April is another important date and hopefully we will see the range breakout and also big move as we expected. Fresh long should only be taken on close above 10610 for a move towards 10666/10750. Bearish below 10490 for a move back towards 10450/10390. Nifty did a range breakout above 10610 but failed to do our target of 10666 and gave a whipsaw as closed below 10610.Tommrow is an important astrological date so we can see good move in next 2 days. Fresh long should only be taken on close above 10610 for a move towards 10666/10750. Bearish below 10490 for a move back towards 10450/10390. Important intraday time for reversal can be at 2:01Bank Nifty does freak low of 24666,EOD Analysis

 

• Nifty April Future Open Interest Volume is at 2.46 core with liquidation of 17.2 Lakh with decrease in  cost of carry suggesting short position were added today, NF Rollover cost @10156 closed above it.
  

• Total Future & Option trading volume at 7.37 Lakh core with total contract traded at 1.24 lakh , PCR @0.99

• 10700 CE  is having Highest OI  at 48.5 Lakh, resistance at 10600 followed by 10700 .10200-10700 CE liquidated 16.4  lakh in OI so bears covered  position  in range of 10300-10400. FII sold 5.6 K CE and 5.9 K CE were shorted  by them. Retail bought 40 K CE and 20.4 K CE  were shorted by them.
  

 

• 10500 PE OI@57.7  lakhs having the highest OI strong support at 10500 followed by 10400 . 10000-10500 PE liquidated 8.9 Lakh in OI so bulls covered position in 10200-10300 PE. FII bought 13.8 K PE and 2 K PE were shorted by them. Retail bought 40.5 K PE and 36.2 K PE were shorted  by them.

 

• FII’s sold 259 cores  and DII’s bought 387 cores in cash segment.INR closed at 66.67
  

 

• Nifty Futures Trend Deciding level is 10592 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 10410. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level

Buy above 10595 Tgt 10620,10645 and 10666 (Nifty Spot Levels)

Sell below 10555 Tgt 10520,10480 and 10450 (Nifty Spot Levels)

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