Nifty heading for Monthly breakout, Will Bulls succeed ?

By | January 30, 2015

FII

  • Nifty closed the January series with massive  gain of 778 points, In last 15 years big gains were made in January series in  2012 and 2001  As discussed yesterday  Nifty is took support at its HEMA@ 8861 and bulls made nifty rally in last 45 mins.Monthly and Weekly closing today as seen in below chart Nifty is near trendline resistance in Monthly chart so today’s price action need to be watched as we get breakout or give some correction from trendline resistance.

nifty monthly

nifty daily

  • Nifty Future Feb Open Interest Volume is at 2.47 core with addition of 42 lakhs , so series starting on heavy note.2.25 lakhs got rollovered in range of 8900-9100 so this range needs to be watched for breakout or breakdown in NF for feb series.
  • Total Future & Option trading volume was   at 5.80 lakh core with total contract traded at 6 lakh. PCR @1.
  • 9000  CE  OI at 34.7  lakh so wall of resistance @ 9000 .8500/8900 CE saw addition  of 13.4  lakhs so bears have also warming themselves up . FII bought 52.5 K CE and 9.6 K shorted  CE were covered by them.
  • 8800 PE OI@ 22.6  lakhs so strong base @ 8800. 8500/8900 PE  added 31.9 lakh in OI so bulls have started put writing in huge number in start of series.
  • FII’s bought 1723 cores in Equity and DII sold 1680 cores in cash segment.INR closed at 61.86.

 

Buy above 8966 Tgt 8992,9032 and 9060 (Nifty Spot Levels)

Sell below 8925 Tgt 8905,8886 and 8860 (Nifty Spot Levels)

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One thought on “Nifty heading for Monthly breakout, Will Bulls succeed ?

  1. H BASAVARAJ

    Accurate analysis
    1 what is H in HEMA
    2 data FII’s bought 52.5K CE is it FEB series
    3 which side FII’s are writing
    Thanks for the technical analysis

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