Nifty: Important levels for trade day 18 April 2023

NSE:NIFTY   Nifty 50 Index
In previous post
One of the 3 important levels given on the downside was 17708. Nifty closed the day at 17706.85
Also had suggested the blue zone may act as Support zone for Nifty in April series.

Despite poor reaction to Infy numbers, Nifty has managed to take support in the blue zone. It recovered more than a good 100 points after touching the blue zone. What next…

Let’s see what Data is telling us…

Index Futures
Retail traders added 7833 Long contracts and squared off 6663 Short Contracts
FIIs exited 3406 Long contracts and added 4015 Short Positions
Pro traders exited 5015 Long contracts and added 9027 Short contracts

Index Call Option
Retail traders added 20.64 Lakh Call Long contracts and also added 18.67 Lakh Call Short Contracts
FIIs added 2.89 Lakh Call Long contracts and added 2.72 Lakh Call Short Positions
Pro traders added 4.13 Lakh Call Long contracts and added 6.27 Lakh Call Short contracts

Index Put Option
Retail traders added 12.90 Lakh Put Long contracts and added 12.27 Lakh Put Short Contracts
FIIs added 1.87 Lakh Put Long contracts and added 1.76 Lakh Put Short Positions
Pro traders added 2.88 Lakh Put Long contracts and added 3.63 Lakh Call Short contracts

Overall Put Call Ratio cooled off to 0.99 from 1.31.

Given the chart set up and Data inputs Important levels on Nifty spot for 18th April 2023
Important levels on the upside 17776 / 17804 / 17836
Important level on the downside 17615 / 17584/ 17551

Take care & safe trading...!!!

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