Nifty sees 4 quarter of correction, EOD Analysis

By | March 31, 2016
  • As discussed in Last Analysis   Support is again at 7550 and resistance in range of 7780-7800. High made today was 7777, as nifty reacted from demand zone, Nifty has risen 767 points in March series and formed a hammer pattern on Quarterly chart,  As seen in below chart nifty has corrected for 4 quarters in a row and it has happened 3 time before, and every time market has rallied, Will History repeat itself needs to be seen. Bank Nifty forms doji near supply zone, EOD Analysis

Quaterly

  • Nifty April Future Open Interest Volume is at 1.88 core with addition of  46.7 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover stands at 58.2 % Rollover cost @7740. Nifty rallied 650 points above Rollover cost
  • 8000  CE   is having Highest OI  at 41.9 lakh, resistance at 8000  and support at 7500.
  • FII’s bought 4056 cores in Equity and DII’s sold 2890 cores in cash segment.INR closed at 66.24

Buy above 7742 Tgt 7770,7803 and 7850 (Nifty Spot Levels)

Sell below 7700 Tgt 7672,7645 and 7610 (Nifty Spot Levels)

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16 thoughts on “Nifty sees 4 quarter of correction, EOD Analysis

  1. Yogesh

    VERY NICELY STUDIED AND EXPLAINED ABT QUARTERLY CHARTS.SIR,
    I HOPE NIFTY WILL CORRECT TILL 7500 AND THEN RISE TILL 8000 IN APRIL

  2. Bramesh Post author

    Dear Sir,

    I have given a quarterly chart which means am talking from quarter perceptive not from intraday perceptive..

    For Intraday use the intraday levels mentioned

  3. Vamsi

    I wish there is a like or share button to this post!!!!

  4. Narendra

    Sir above article i am not understanding according to this quarter the market should fall or rise

  5. Bramesh Post author

    Follow levels not news should be funda of trader.

  6. Bramesh Post author

    Dear Samji,

    Its correct. 7790 is TC level for both Intraday and positional.

  7. Bramesh Post author

    Follow levels not news. Be reactive not predictive.

  8. Bramesh Post author

    Its mentioned please read the article.

  9. gviswa

    sir what is the rollover cost for this month.It is not mentioned.

  10. Bharani

    Is it ideal to take long positions now? Considering there will be a rate cut.

  11. Sam

    Masterji,

    I might be wrong but the TC level is printed 7790 instead of 7690 and the same goes with the Positional Trader also.

    Regards
    Sam

  12. Pujan Vora

    FII’s buy figures are gigentic hope they are eying 0.50+ basis point rate cut in rbi policy. All dips are entry level in market in next 2 trading session.

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