Nifty gets resisted at gann arc, EOD Analysis


  • FII’s bought 22.5 K contract of Index Future worth 1328 cores ,17.4 K Long contract were added by FII’s and 5.1 K short contracts were liquidated by FII’s. Net Open Interest increased  by 12.3 K contract, so rise in Nifty market was used by FII’s to enter  long and  exit shorts in  Index futures.Why Retail Traders lose money in Stock market
  • As discussed in last analysis   Now if we close above 7950/7972 range can see quick move towards 8100. Bearish only on close below 7850. High made today was 7950 exactly at gann arc, Bulls need a close above 7950/7972 range to continue the rise further else we can see a dip till 7850/7800 range. Till close is above gann number of 7850 bulls are in control Bank Nifty continue with uptrend,EOD Analysis

Gann resistance


  • Nifty April Future Open Interest Volume is at 1.63 core with addition of  5.1 Lakh with increase in cost of carry suggesting long position were added today, NF  Rollover cost @7740, Nifty future opened above it and rallied
  • 8000  CE  is having Highest OI  at 68.1 lakh, resistance at 8000 .7500/8000 CE  liquidate d9 lakh so bears liquidated  as we closed above 7850 .FII bought 10.5 K CE longs and 1.3 K shorted  CE were covered by them .Retail bought 31.3  K CE contracts and 27.1 K CE were shorted  by them.
  • 7800 PE OI@56.1 lakhs having the highest OI strong support at 7800. 7500-8000 PE added 19.6 Lakh in OI so strong base near 7800 .FII sold 8.5 K PE longs  and 23.3  K  PE were shorted  by them .Retail bought 63.1 K PE contracts and 33.8 K PE were shorted  by them.
  • FII’s sold 80 cores in Equity and DII’s sold 300 cores in cash segment.INR closed at 66.22

Buy above 7920 Tgt 7950,7975 and 8000 (Nifty Spot Levels)

Sell below 7875 Tgt 7850,7830 and 7806 (Nifty Spot Levels)

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