Nifty complete extended ABCD pattern,EOD Analysis


  • FII’s sold 681 contract of Index Future worth 86 cores ,217 Long contract were liquidated  by FII’s and 464 short contracts were added by FII’s. Net Open Interest increased  by 247 contract, so fall in market was used by FII’s to exit long and  enter  shorts in  Index futures. Do you have what it takes to be a trader?
  • Nifty has finally completed its ABCD pattern as it touched 138.2% retracement as we have been discussing in last analysis and bounced back almost 80 points from the low. Harmonic Pattern (We recently started Harmonic Course for traders wanting to learn more about it) gives you precise entry with minimum risk, 1 Target of rise comes at 7414 which should be achieved by Friday.  Break of 7232 will invalidate the pattern till its held we can see strong bounceback in market. Today rise in last 1 hour was on good breath so we might have formed short term bottom confirmation on close above 7414. Nifty Bounces after 606 correction,EOD Analysis

Nifty Harmonic

  • Nifty January  Future Open Interest Volume is at 2.08 core with liquidation of 0.15  Lakh with increase in cost of carry suggesting short position were closed today . Nifty  rollover cost 7930 close below it saw sharp decline
  • 7700  CE  OI at 51.9 lakh , wall of resistance @ 7700 .7400/8000 CE liquidated 28 lakh in OI so  major liquidation was seen  by bears suggesting we might have formed short term bottom .FII bought 10.9 K CE longs and 9 K CE were shorted by them .Retail bought 11.2 K CE contracts and 716 CE were shorted  by them.
  • 7300 PE OI@60.7 lakhs  strong base @ 7300. 7300/8000 PE  liquidated 35 lakh so bulls again used to rise to exit as nifty did not close above previous day close.FII bought 53.1 K PE longs and 2.1 K PE were shorted by them .Retail sold 20.9 K PE contracts and 11.3 K  PE were shorted  by them.
  • FII’s sold 1324 cores in Equity and DII’s bought 1384 cores in cash segment.INR closed at 67.96

Buy above 7364 Tgt 7390,7414 and 7464 (Nifty Spot Levels)

Sell below 7350 Tgt 7320,7295 and 7250 (Nifty Spot Levels)

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  1. Bramesh said:

    Please like my facebook page or twitter to get real time update..

    January 21, 2016
  2. Ajit said:

    Dear Bramesh,

    One Request: Your comments/articles only have a date and no time. So for readers like me who can read it only sometimes inbetween, get confused as to whether it refers to data of previous day or same day. So Maybe, in the end, when you mention levels, pls mention which trading day they are applicable to. Thanks in advance.

    January 21, 2016
  3. RAJMOHAN said:


    January 21, 2016

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