- FIIs bought 7032 contracts
of Index Future (bought 2777 long contracts and 4255 short contracts were squared
off) with net OI decreasing by 1478 contracts. FIIs were net buyers on yesterday.
- Nifty made fresh
new life time high and formed bearish engulfing Candlestick pattern suggest probable
red signal for the bull camp. Also the Gann fan showing nifty is at resistance
zone and on hourly chart nifty broke the channel suggest bearish signal.
- If we observed in last
rally of nifty it’s took 8 trading session and fall down. Now in this rally 8th
trading session over and nifty almost rallied 382 points & took pause in
bull rally.
- Nifty may fall and retrace
in next 1-2 trading sessions and possible target comes at 7800 – 7785. This downside
possibility is invalid if nifty open & trade for one hour above 7920 then
upside rally possible up to 7960 – 8000.
- FIIs bought 11416 contracts
of Index Future (bought 9083 long contracts and 2333 short contracts were squared
off) with net OI increasing by 6750 contracts. FIIs were net buyers on today.
- Nifty made life
time high 7918.55 and FIIs buying long contracts & at new high they (FIIs) squaring
shorts suggest well sign for bulls. But from last 7 trading sessions nifty continually
closed above its previous day close and today formed a doji Candlestick pattern
suggest probable red signal for the bulls. Nifty may fall and retrace in next 1-2
trading sessions.
- We may see 7880 –
7825 (spot) as support zone and at upside 7920 – 7945 – 8000 (spot) is a
resistance zone.
- FIIs bought 18455 contracts
of Index Future (bought 27460 long contracts and 9005 short contracts were added)
with net OI increasing by 36465 contracts. FIIs were net buyers on today.
- Though IIP and CPI
data was disappointed but the market turns into the green and closed above 20
days SMA suggest bullish in nature. We observed market was rising but some
stocks were corrected badly which is not a good sign for bulls.
- We may see 7695 –
7675 (spot) as an important support zone and at upside 7790 – 7825 (spot) is a
resistance zone.
- FIIs bought 36214 contracts
of Index Future (bought 10668 long contracts and 25546 short contracts were square
off) with net OI decreasing by 14878 contracts. FIIs were net buyers on today.
- As discussed in
last write up- “FIIs squared off short contracts
near support zone 50 day EMA hence one pull back up to 7680-7715 is on cards.” and
nifty rallied almost 101 points today and tested above suggested levels.
- After fall of
Friday session nifty second time gap up open yesterday. In this series market
either open gap up or down till now. IIP and CPI data has disappointed the
market and we will see the gap down opening tomorrow.
- We may see 7675-7685
(spot) as an important support zone and at upside 7640 – 7655 (spot) is a
resistance zone.
- FIIs bought 4311 contracts
of Index Future (bought 3234 long contracts and 1077 short contracts were square
off) with net OI increasing by 2157 contracts. FIIs were net buyers on yesterday.
- FII’s went into
panic mode on Friday after a big gap down and squared off Huge Long Position in
Index Futures which were getting rollovered from March Series & on
yesterday (Monday) there was a gap up opening observed, FIIs squared off short
contracts near support zone 50 day EMA hence one pull back up to 7680-7715 is
on cards.
- Nifty has
resistance at 7680 – 7715 (Spot) & support levels comes at 7595 – 7540(spot).
- FIIs sold 5272 contracts
of Index Future (sold 2208 long contracts and 3064 short contracts were added) with
net OI increasing by 856 contracts. FIIs were net sellers on today.
- As discussed in
last write up – “Nifty has to break Friday’s high 7716.70 (Spot) to remain
bullish in next session otherwise massive selling pressure is possible.” And as nifty break these
resistance shoot up. This upward momentum may continue ahead.
- Nifty has taken
support at 20 days SMA and get bounced but trader has to be caution as FIIs are
adding shorts when market is trying to test new high & booking profit in
longs which suggest they (FIIs) are using high as a shorting opportunity &
book profits.
- Nifty has
resistance at 7796 – 7840 (Spot) & support levels comes at 7713 – 7690 –
7673 (spot).
- FIIs bought 7492 contracts
of Index Future (bought 9177 long contracts and 1685 short contracts were added)
with net OI increasing by 10862 contracts. FIIs were net buyers on yesterday.
- Nifty today bounced
back & closed above 20 days SMA which is a good positive sign. Nifty has to
break Friday’s high 7716.70 (Spot) to remain bullish in next session otherwise massive
selling pressure is possible.
- RBI monetary policy
review will be announced by tomorrow so big movement is expected in 1-2 trading
sessions.
- Nifty has
resistance at 7716 – 7740 (Spot) & support levels comes at 7620 – 7585. Nifty
