Will Nifty close above 7462,EOD Analysis

By | January 26, 2016

FII

  • FII’s sold 18.1 K contract of Index Future worth 981 cores ,5.7 K Long contract were liquidated by FII’s and 12.4 K short contracts were added by FII’s. Net Open Interest increased  by 6.7 K contract, so rise in market was used by FII’s to exit  long and  enter shorts in  Index futures. Secret of Successful Trading:Make Your Trading Boring
  • As discussed in Last Analysis Now range of 7460-7480 should be watched closely as closing above it can see nifty moving in 7550-7575 range where we have strong supply, Support at 7320 and 7250. High made was 7487 and nifty came down to close @7436. We need a close above 7462 for market to reach the next target of ABCD pattern @ 7521. Support at 7336/7250 Bank Nifty EOD Analysis

Supply Demand

Nifty Harmonic

  • Nifty January  Future Open Interest Volume is at 1.52 core with liquidation of 32 Lakh with decrease in cost of carry, Rollovers have started and current rollover comes @33%.
  • 7600  CE  OI at 49.3 lakh , wall of resistance @ 7600 .7400/8000 CE added 9.4 lakh in OI addition was seen  by bears as nifty was not able to cross 7462 .FII bought 11.5 K CE longs and 2.3 K CE were shorted by them .Retail bought 24.3 K CE contracts and 1.9 K CE were shorted  by them.
  • 7300 PE OI@58.2 lakhs  strong base @ 7300. 7300/8000 PE  liquidated 17.2 lakh so bulls used to exit  lower PE strike prices .FII sold 14.4 K PE longs and 4.5 K PE were shorted by them .Retail bought 1.9 K PE contracts and 5.8 K shorted    PE were covered by them.
  • FII’s sold 91 cores in Equity and DII’s bought 307 cores in cash segment.INR closed at 67.83

Buy above 7450 Tgt 7475,7500 and 7521 (Nifty Spot Levels)

Sell below 7400 Tgt 7381,7350 and 7330 (Nifty Spot Levels)

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5 thoughts on “Will Nifty close above 7462,EOD Analysis

  1. RAJMOHAN

    I WILL WAIT FOR MARKET TO STAY ABOVE 7462 AS PER ANALYSIS INSTEAD OF BUY ABOVE 7450

  2. Gayathri

    Hi Bramesh,
    Very good analysis..can you please once again check on 18.1k futures buy or sell, bcoz i read in different site as SOLD..’

    Ty

  3. rajan

    sir,can we have a big rally in 2016 before a quick correction.

  4. Rajveer

    Thank you for the detailed analysis, FED announcements are positive for the market, so we should see a rally till 7550 soon.

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