Nifty closes below 50 SMA, FII Data Analysis

By | October 8, 2014

FII_1

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  • FII’s bought 3.8 K contract of Index Future worth 152 cores, 9.6 K Long contract were added  and 5.7 K short contracts  were added by FII’s. Net Open Interest increased  by 15.7 K contract , so FII added  both long and short in index futures in ratio of 2:1.
  • Nifty is trading in gann box angles in and is near an important support zone, closing above it today by holding 7784-7800 range we can see bounceback in nifty and unable to do so larger correction is on the way. 7784 is also 61.8% ratio so profit booking in shorts is advised near these levels.
  • We saw the effect of gann turn date but few readers were saying we are not able to properly utilize it as i do not mention which way the market will turn, as a trader we need to trade on levels, Gann turn date means we can see a big move in marekt but which side for that we have trading levels , These were the trading levels for yesterday,  As discussed here Buy was clearly above 7954 Nifty made high of 7943 so buy never got triggered and we were in sell mode from morning so its quiet obvious gann effect will come on downside and nifty did all 3 targets on downside. Hope this will help in using gann turn date in future. Always have a plan and  and use my reading as an input in your trading plan

Buy above 7954 Tgt 7970,7990 and 8010 (Nifty Spot Levels)

Sell below 7930 Tgt 7910, 7888 and 7850 (Nifty Spot Levels)

Nifty Gann

  • Nifty Future October Open Interest Volume is at 1.62 core with addition of 6.3  lakh in OI  with increase in CoC suggesting short addition.
  • Total Future & Option trading volume was   at 1.46  lakh core with total contract traded at 1.8 lakh. PCR @0.84.
  • 8200  CE  OI at 54.2  lakh  suggesting wall of resistance , 8000 CE  added 12  lakh suggesting  8000 will be difficult to cross in coming trading sessions, 7900 CE also added 7.4 lakh so 7900 will be fighting point again between bulls and bears.  FII’s bought 441 CE longs and 10.7 K CE  CE were shorted  by  them.
  • 7800 PE OI@ 62.5 lakhs so strong base @ 7800, high probability of bounce around these levels . 7900 PE OI@43.5 lakh with liquidation of 3 lakh  so 7900 PE is coming up as an strong resistance , FII’s bought 11.4  K contract  PE longs and 1.6 K PE contract were shorted  by  them mostly in 7700PE.
  • FII’s sold 63 cores in Equity and DII bought 155 cores in cash segment.INR closed at 61.6.

 

Buy above 7880 Tgt 7916,7943 and 7979 (Nifty Spot Levels)

Sell below 7815 Tgt 7784, 7750 and 7715 (Nifty Spot Levels)


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10 thoughts on “Nifty closes below 50 SMA, FII Data Analysis

  1. Bramesh Post author

    Dear Vikas,

    Always trade with SL and Chopad levels mentioned below the post. Do not stick to just one line i wrote

    If any change in views will be updated but as of now new high is still on cards.

    Rgds,
    Bramesh

  2. Bramesh Post author

    SL as per thumb rule for trading in Nifty is 20 points.

    Rgds,
    Bramesh

  3. Bramesh Post author

    Dear Sir,

    Please read it again i just gave an example using yesterday levels.

    Rgds,
    Bramesh

  4. RPModi

    Sell if NS < 7930.Is it error as Nifty Closing
    price is 7852

  5. Vikas Patil

    Sir now your weekly report valide for new life time high within 2 week ..as u mentioned that 5th impulsive wave take nifty towards new high ….so can we stay with your weekly post as of now ????

    Pls reply…

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