Nifty long term trend change with close above 7972,EOD Analysis

By | May 26, 2016

FII

  • As discussed in last analysis  Bulls need a close above 7995 for next move till 8116. High made today was 8083, and till we held to 7995 we can move towards 8116. Time correction once come to end lead to such impulsive move, Nifty has move 335 points in just 2 trading session. Hopefully reader of blog were not caught on the wrong side and would have made money. Today close above 7972 is quiet significant as per gann analysis and we can see a move towards 8336 in coming few weeks, till we close above 7972. Bulls should protect 7972 next leg of move towards 8336. It will not be a straight rally but trend is up/buy on dips till we close above 7972. Resistance on way of 8336 are 8116/8209/8241.  Bank Nifty does 1000 points in 2 days from gann trendline,EOD Analysis

Support

  • Nifty June Future Open Interest Volume is at 1.94 core with addition of 46 Lakh with increase in cost of carry suggesting long position were added today, NF  Rollover cost @7961, and Rollover % at 69.6

 

  • FII’s bought 581 cores in Equity and DII’s bought 686 cores in cash segment.INR closed at 67.17

Buy above 8085 Tgt 8100,8119 and 8150 (Nifty Spot Levels)

Sell below 8030 Tgt 8010,7985 and 7950 (Nifty Spot Levels)

Follow on Facebook https://www.facebook.com/Brameshs-Tech-14011718268586

Follow on Twitter:https://twitter.com/brahmesh

14 thoughts on “Nifty long term trend change with close above 7972,EOD Analysis

  1. Bramesh Post author

    Whether its FII/DII/Retails its risk management and professionalism which counts to be a successful trader..

    Rgds,
    Bramesh

  2. Bramesh Post author

    thanks a lot.. Will try to update gunner..

  3. Bramesh Post author

    Risk Management is what defines a trader..

  4. Sk

    Thanks sir, generally I am strict follower of OI but this time I bought calls based on bramesh sir nifty level7836 weekly trend level helped a lot, where EW followers were waiting for downtrend, for every trader two options, follow all technicals in the world or bramesh, I chose bramesh sir. Hatsoff sir

  5. Bramesh Post author

    Do not follow news, Follow levels. Till above 7972 target 8336 is my simple plan with rigid risk management..

  6. avadhut mane

    hi,sirji if today rates r hike in usa fed meeting so there is +ve impact on Indian market can this rally go forward upto 8300 ? we close above 8100 is this +ve sign for next 4-5day?

  7. nysrsp

    Sir, you repeatedly said about Time Correction……But I did not expect such kind of reversal so swiftly…..It rose all of a sudden…..Lost on wrong side…..

    Thanks for your analysis, sir….It was simply great…

  8. durairajan

    superb analysis ramesh ji welldone keep at up ji gr8

  9. rahul r

    Bramesh ji ! the levels and breakout worked exactly as you predicted in your blog. Very helpful. thanks a lot for the analysis…

  10. Priya

    Brameshji
    Congrats. Right from 2 May analysis you predicted that if 7777 holds we can move upto 8096.Yesterdays high was 8083! All traders should have only one plan, to follow your technical analysis. Sir a request, your daily gunner chart is of great value, please and kindly include it in the EOD analysis. Thanks a lot.

  11. Ram Nene

    Bramesh ,
    Any idea on what happened exactly today ? the 8000 CE had some 78lakh open interest , Still it got violated strongly , yesterday Retail had bought PE aggressively and sold CE and exactly reversed happened today FII took all the money from retail.

    Seems like some big FII also took hit in same, bcas 78 lakh OI in CE is not all the retail money (Any link which gives LIVE open interest data ?)

    ‘V’ shape trend reversal is surprise , will have to accept it “Trend is our friend” , Buy in pull back (don’t try to short).

    Indicators are saying a different story : seems like another trading range will form

Leave a Reply