Nifty corrects 150 points from 7850,EOD Analysis


  • FII’s sold 21.9 K contract of Index Future worth 1277 cores ,19.7 K Long contract were liquidated by FII’s and 2.2 K short contracts were added by FII’s. Net Open Interest decreased  by 17.5 K contract, so fall in market was used by FII’s to exit long and  enter  shorts in  Index futures. Stop Gambling Start Trading
  • As discussed in last analysis   If we close above 7850 on weekly basis can see move back to 7950-7972 range and weekly close below 7850 can see move towards 7750-7700.  Nifty made low of 7697 does the target of 7700 near gann support line as shown in below chart, If we hold this line we can see bounceback till 7800/7850 range. Unable to close above 7850 in bounce back  we can fall all the way till 7546-7501 in next 2-3 weeks Bank Nifty continues downmove,EOD Analysis

Bank Nifty Supertrend

  • Nifty April Future Open Interest Volume is at 1.91 core with liquidation of 6 Lakh with decrease in cost of carry suggesting long position were closed today, NF  Rollover cost @7953, continue to trade below it.
  • 8000  CE  is having Highest OI  at 55.5  lakh, resistance at 8000 .7500/8000 CE  added 17 lakh so bears added position on higher level and will hold till nifty do not close above 7972 .FII bought 1  K CE longs and 25 K CE were shorted by them .Retail bought 55 K CE contracts and 13.5 K CE were shorted  by them.
  • 7700 PE OI@40 lakhs having the highest OI strong support at 7700. 7200-7700 PE added 3.6 Lakh in OI so strong base near 7500-7600 zone .FII bought 20.2 K PE longs  and 4 K PE were shorted  by them .Retail sold 10 K PE contracts and 14.3 K PE were shorted  by them. FII’s added aggressive Nifty put at start of series, high of 7950  not broken bias remain bearish. High made today 7950
  • FII’s sold 66 cores in Equity and DII’s sold 78 cores in cash segment.INR closed at 66.55

Buy above 7720 Tgt 7737,7760 and 7789 (Nifty Spot Levels)

Sell below 7695 Tgt 7665,7640 and 7600(Nifty Spot Levels)

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  1. RM said:

    Nifty Spot. Levels. Are of yesterday pls check

    May 5, 2016
  2. Bramesh said:

    7755 is TD level if NF sustains above that level for 5 mins long can be taken with 20 points as SL and Tgt 20-25 points than Trail it..

    Please backtest it for 2-3 months than take live trade..

    Any given day SL gets triggred 2 times in a day no further trade to be taken.


    May 5, 2016
  3. Rajesh Jangid said:

    Today Nifty Futures Trend Deciding level is 7755.Nifty trade above level & trigger this level both side again & again…In this case What is stop loss we maintain.. Please your valuable advise sir

    May 5, 2016
  4. Bramesh said:

    yes perfect !!

    May 5, 2016
  5. manu said:

    Bramesh ji.. do you see any probability of bullish shark pattern starting near 7500 levels on nifty daily.. prz of which also falls between 38%-50% fibonacci rerracement of important lows.

    May 5, 2016

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