Bulls and Bears fighting in 100 points range, who will win ?

By | February 20, 2015

FII

  • FII’s sold 23.7 K contract of Index Future worth 641 cores, 16.5 K Long contract were squared off FII’s and 7.2 K  short contracts  were added  by FII’s. Net Open Interest decreased  by 9.2 K contract ,so FII’s squared off long  and added shorts in Index Futures in volatile session of trade.
  • Nifty closed in red after  7 day of rise , it was a roller coaster ride for market today but was able to close above the hourly trendline resistance.  Gann Box was unable to cross the yellow line and corrected back to green line. Nifty has been rangebound in the range of 8800-8900 in past 2 session expect a good move once this range gets resolved. As per Quant analysis We had 83 point correction today which is less than 109 which happened on 19 Feb so till correction are in this range market will continue with current uptrend any correction larger than 109 suggests the current trend is over.

NIFTY - Gann Box

 

  • Nifty Future Feb Open Interest Volume is at 2.29 core with liquidation of 19 lakhs out of which 15 lakh got rollovered in March series.
  • Total Future & Option trading volume was   at 3.34 core with total contract traded at 5.4 lakh. PCR @0.93.
  • 9000  CE  OI at 73  lakh with addition of 12.1 lakh so wall of resistance @ 9000 getting stronger.8500/8800 CE liquidated 1.4 lakhs so bears are still liquidating,   8900 CE added 7.7 and 17 lakh added in this week so 8900 will add as big resistance and gap up can take off that. FII bought 1 K CE and 12.6 K CE were shorted by them.
  • 8800 PE OI@ 43 lakhs so strong base @ 8800. 8900 PE  saw liquidation of 2.8 so bulls have started liquidating  so fight for 8800/8900 will get resolved by Tuesday .  FII bought  10.8 K PE and 5 K shorted  PE were covered by them.
  • FII’s sold 89 cores in Equity and DII bought 204cores in cash segment.INR closed at 62.14.

 

Buy above 8850 Tgt 8883,8913 and 8933 (Nifty Spot Levels)

Sell below 8816 Tgt 8800,8766 and 8750 (Nifty Spot Levels)

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13 thoughts on “Bulls and Bears fighting in 100 points range, who will win ?

  1. Bharat Krishnan

    Bramesh ji,

    As of now it is from the high the fall is 120 pts. If it cuts 8748 then as per your theory whether the uptrend is over.

  2. Venkat

    As Bramesh ji said, expect a big move by coming Tuesday. In a bull market, more correction means more momentum.

  3. mohitjain

    Bramesh ji calls oi suggesting that very difficult that nifty to cross 8900 in this srees nd fii solding calls nd acumleting puts what is your view on expire ???

  4. Anand

    Greece deal of some sorts + Indian markets to open on budget day – hope it sugars well on Monday

  5. Shivakumar

    There was a bullish Engulfing candle( bullish ) on weekly charts last weeks closing.This week its an doji (neutral candle).And on daily charts its bearish engulfing today on 20/02/2015 ..what to predict now …

  6. Shivakumar

    Bramesh ji , kindly put some light on how to use On Balance Volume and Guess the Market

  7. Bramesh Post author

    Dear Gopi,

    It was based on fast rise retracement, and it did not meet the expected target as analyzed within the stipulated time frame.

    Now keeping this 1 case in consideration if you think i should stop analyzing that not possible. I will keep doing it and will keep improving my analysis.

    Rgds,
    Bramesh

  8. gopicbin1

    You rarely predict, Pl stick with that. Because your last prediction of nifty crossing all time high boomeranged.

  9. Abhi

    Bramesh Ji,
    if time permits, can you please suggest where yellow line (index) will be on Monday and Tuesday.
    Thanks

  10. tarun

    hi,
    regd. the 109 point correction you mentioned. today it was 83 pts 8889 – 8813.
    what should be trigger point for more than 109 pts fall in case mkt. high remains at 8860 on monday ?

  11. Ashwani Kataria

    Monday’s opening — Gap Up or Gap Down —- Min 100 points…
    Greece news

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