Nifty unable to close above gann number 7850,EOD Analysis


  • FII’s sold 16.2 K contract of Index Future worth 984 cores ,14.2 K Long contract were liquidated by FII’s and 1.9 K short contracts were added by FII’s. Net Open Interest decreased  by 12.2 K contract, so fall in market was used by FII’s to exit long and  enter  shorts in  Index futures. How Priming can improve trading performance
  • 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 7735  and closing below 7850, which has bearish implication and we can fall all the way till 7546-7501 in next 2-3 weeks if 7850 is not crossed. Today High was 7890 near our Weekly Chopad level 7877 and saw the big fall. Bank Nifty does 16350,EOD Analysis

Daily Gunner

  • Nifty April Future Open Interest Volume is at 1.97 core with liquidation of  0.006 Lakh with decrease in cost of carry suggesting long position were closed today, NF  Rollover cost @7953, continue to trade below it.
  • 8200  CE  is having Highest OI  at 54.4 lakh, resistance at 8200 .7700/8200 CE  added 33.1 lakh so bears added position on higher level and will hold till nifty do not close above 7972 .FII bought 11.2  K CE longs and 13.5 K CE were shorted by them .Retail bought 54.4 K CE contracts and 25.2 K CE were shorted  by them.
  • 7700 PE OI@44.6 lakhs having the highest OI strong support at 7700. 7200-7700 PE added 0.99 Lakh in OI so strong base near 7500-7600 zone .FII bought 20.8 K PE longs  and 10.2 K PE were shorted  by them .Retail sold 1.4 K PE contracts and 10.2 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 435  cores in Equity and DII’s bought 484 cores in cash segment.INR closed at 66.45

Buy above 7777 Tgt 7791,7820 and 7846 (Nifty Spot Levels)

Sell below 7730 Tgt 7695,7660 and 77636(Nifty Spot Levels)

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  1. Bramesh said:

    Harmonic Trading, Volume One: Profiting from the Natural Order of the Financial

    The Tunnel Thru the Air Or Looking Back From 1940

    May 4, 2016
  2. vidya said:

    Bramesh sir,
    what is the best book that u suggest for Gann theory, harmonic patterns..pls suggest..

    May 4, 2016
  3. mishra said:

    should it be 7749 for intra day traders and 7779 for positional trader.

    May 4, 2016
  4. Bramesh said:

    yes thats correct understanding.. Please do not generalize the view if you are not clear does not mean others are also not clear..

    thats the reason i tell make rules do paper trade for atleast 3 months trade small build confidence and than trade fearlessly

    but most of traders just want to jump in water without having a plan and than do mistakes and say “we do not understand”..

    I did not trade for 1 year (was not allowed to trade) when i was learning trading now going down the lane i understand the reason behind it why my guru did not allow me to trade.. he was trying to develop my cognitive skills…

    May 4, 2016
  5. Anuj Aggarwal said:

    I was trying to trade according to TC. I made a long position since it very well was defending 7889 for a long time. But than stop loss acted in mid of day. So how come we got 100 points? Can you explain more? Should we short more rather than closing position when TC hits stop loss. I have tried reading your TC articles and am still not clear. I am sure a lot more people will not be clear. Can u take example from this situation and explain how TC trader should react.

    May 4, 2016
  6. Bramesh said:

    Dear Anuj,

    This is what i have written

    TC followers got a good entry at 7889 after “stopping out” in morning trade got more than 100 points.

    May 4, 2016
  7. Anuj Aggarwal said:


    Isn’t the TC traders have been hit by stoploss today ?
    They did get a trade entry – but than it reverted back before closing hitting the usual 20 point stoploss on nifty.


    May 4, 2016

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