Will Nifty close above 7336 supply zone,EOD Analysis


  • FII’s bought 6.3K contract of Index Future worth 329 cores ,6.9 K Long contract were added by FII’s and 575 short contracts were added by FII’s. Net Open Interest increased  by 7.5 K contract, so fall in market was used by FII’s to enter long and  enter  shorts in  Index futures. Do you have what it takes to be a trader?
  • Nifty again bounced from 7250 level near the ABCD pattern completion 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 Nifty today made high of 7401 doing the 1 target and correcting back to 7250 but eventually bouncing back again.  Break of 7232 will invalidate the pattern till its held we can see strong bounceback in market.Nifty now needs to close above 7336 for a quick move towards 7432 as shown in below chart. Bank Nifty hold the gann arc,EOD Analysis

Supply Demand

Nifty Harmonic

  • Nifty January  Future Open Interest Volume is at 1.95 core with liquidation of 12.5  Lakh with increase in cost of carry suggesting short position were closed today . Nifty  rollover cost 7930 close below it saw sharp decline
  • 7500  CE  OI at 55.3 lakh , wall of resistance @ 7500 .7400/8000 CE added 3 lakh in OI so  major addition was seen  by bears suggesting as nifty bounced from 7250 today we might have formed short term bottom .FII bought 2.5 K CE longs and 13.2 K CE were shorted by them .Retail bought 36.1 K CE contracts and 20.4 K CE were shorted  by them.
  • 7300 PE OI@61.8 lakhs  strong base @ 7300. 7300/8000 PE  liquidated 12 lakh so bulls again used to rise to exit as nifty did not close above previous day close.FII bought 12.8 K PE longs and 4 K PE were shorted by them .Retail bought 10.9 K PE contracts and 16.8 K  PE were shorted  by them.
  • FII’s sold 1747 cores in Equity and DII’s bought 1267  cores in cash segment.INR closed at 68.02

Buy above 7340 Tgt 7367,7401 and 7440 (Nifty Spot Levels)

Sell below 7300 Tgt 7280,7250 and 7200 (Nifty Spot Levels)

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  1. Yash said:

    Nice gud analysis sir on 21 Jan nifty which same reflect on 22 Jan gud one

    January 22, 2016
  2. Praveen said:

    Can you please check levels again. Nifty clise is 7276

    January 21, 2016

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