NiftyFuture last close: 16669 (-1.3%)
On Tuesday, NiftyFuture was snapped consecutive 5 days rally and declined 1.3%
NF was opened 16900 then slipped 16800 again bounced to 16900 once again slipped to 16556
In last one hour bounced almost 100 points from day’s low
The final tally was Sensex plunged 730 points while Nifty50 lost 230 points
Bank index was seen highly volatility
India VIX sustained around 26-27
Option premium seems too high and waiting for FED announcements
Metal index lost more than 4% on March 15
Oil prices tumbled more than 6% on Tuesday, first time in weeks
Oil prices fell 30% from recent highs
Dollar falls as lower oil prices
FIIs net sold 1250 crore while DIIs net bought 98 crore on March 15
Balramchin are under F&O ban on 16 March
The US index rallied on Tuesday a day before an expected interest rate hike by US FED
Dow rose 1.82%, S&P500 gained 2.13% and Nasdaq added 2.93%
Asian markets were set to higher opening on Wednesday
SGXNifty indicates a gap up opening for the index likes 16875-16950
On open interest side, 17000CE added more OI in last few sessions
Now, Spot if crosses and manages above the level, option writers aggressively will square-up the CE
However, NiftyFuture is facing a intraday resistance 16800, 16875 and 16930
Once if breaks and holds above 16930 will try to move next magic resistance 17000
On other side, NF considering a supports 16730, 16680 and 16600
Updated: 08.40 am / 16th March 2022
