Will Nifty break 7950/7972 resistance zone, EOD Analysis

By | April 16, 2016

FII

  • FII’s bought 29.3 K contract of Index Future worth 1679 cores ,32.5 Long contract were added by FII’s and 3.2 K short contracts were added by FII’s. Net Open Interest increased  by 35.8 K contract, so rise in Nifty market was used by FII’s to enter  long and  enter small shorts in  Index futures.RICH DENNIS: A GUNSLINGER NO MORE
  • As discussed in last analysis  As we have last trading day of the week tomorrow close above 7740 which is an important gann number will be bullish in short term and can make sure we break the important resistance zone of 7840-7850 next week, Nifty closed just at 7850, Now we need to see 7950/7972 range closing above it will see market moving towards 8100/8250 as per gann analysis. Support at 7600. Bank Nifty gives breakout above 16000,EOD Analysis

Daily Gunner

Support

  • Nifty April Future Open Interest Volume is at 1.62 core with addition of  13.4 Lakh with decrease in cost of carry suggesting short  position were added today, NF  Rollover cost @7740, Nifty future opened above it and rallied
  • 8000  CE  is having Highest OI  at 72.3 lakh, resistance at 8000 .7500/8000 CE  liquidated 50.5 lakh so bears liquidated in major quantity as we closed above 7777 .FII bought 31.7 K CE longs and 53  K shorted  CE were covered by them .Retail sold 89.2  K CE contracts and 13.2 K CE were shorted  by them.
  • 7500 PE OI@46.5 lakhs having the highest OI strong support at 7500. 7000-7900 PE added 53 Lakh in OI so strong base near 7500 and upcoming base near 7700/7600 .FII bought 46.6 K PE longs  and 22.4  K PE were shorted  by them .Retail bought 56.6 K PE contracts and 28.6 K PE were shorted  by them.
  • FII’s bought 644 cores in Equity and DII’s bought 269 cores in cash segment.INR closed at 66.64

Buy above 7900 Tgt 7921,7950 and 7978 (Nifty Spot Levels)

Sell below 7850 Tgt 7830,7800 and 7777 (Nifty Spot Levels)

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5 thoughts on “Will Nifty break 7950/7972 resistance zone, EOD Analysis

  1. RAJMOHAN

    GO TO ARCHIVES TO GET ALL ANSWERS – OPEN GHAZANA / TREASURE OF KNOWLEDGE FOR OUR DOUBTS

  2. RAJMOHAN

    MOVEMENT BETWEEN 7850 ~ 7900 IS DECIDING FACTOR TOMORROW

  3. ram nene

    Sirji ,
    what is “cost of carry” and rollover cost ? thoda explain kijeye please .
    And how increase in open interest with reducing cost of carry result in short position addition what exactly is the logic ?

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