Nifty Weekly Expiry Analysis

By | April 9, 2020 12:15 am

  • FII sold 7 K contract of Index Future worth 413 cores, Net OI has decreased by 2.3 K contract, 5 K Long contract were covered by FII and 2.6 K shorts were added by FII. Net FII Long Short ratio at 0.65, So FII used fall to exit longs and enter shorts.
  •  As discussed in last analysis  Bulls now need to move above 8836 for a move back to 8888/8931/9000. Bears will get active below 8720 for a move back to 8657/8600/8525. We have closed above Gann Angle today bulls need to close above 8700 for this breakout to continue. 9000 done above 8836. We had a volatile session today and formed Shooting Star candlestick pattern,Now bears need to break 8650 for a move towards 8566/8520/8428/8382. Bulls need a close above 8900 for a move back towards 8989/9032/9084/9132.

  • Total Future & Option trading volume at 11 Lakh core with total contract traded at 3.39 lakh , PCR @0.89
  • Nifty April Future Open Interest Volume is at 93 Lakh core with liquidation of 2.3 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @8093 closed above it.
  • 9000 CE is having Highest OI at 15.7 Lakh, resistance at 8900 followed by 9100.8900-9300 CE added 25 Lakh in OI so bears added position in range of 8900-9100.FII sold 734 CE and 7.3 K CE were shorted by them. Retailers bought 106 K CE and 63 K CE were shorted  by them.
  • 8500 PE OI@17 Lakhs having the highest OI strong support at 8500 followed by 8400. 8000-8600 PE added 2.5 Lakh in OI so bulls added position in range 8400 -8500 .FII bought 8.7 K PE and 7.4 K PE were shorted by them. Retailers bought 12.5 K PE and 13 K  PE were shorted by them.
  • FII’s bought 1943 cores and DII’s sold 1757 cores in cash segment.INR closed at 76.71

Buy Above 8800 Tgt 8844,8900 and 8960 (Nifty Spot Levels)

Sell Below 8720 Tgt 8666,8590 and 8525 (Nifty Spot Levels)

Upper End of Expiry : 8988

Lower End of Expiry : 8510

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