Nifty near crucial gann support,EOD Analysis

By | September 13, 2016

fii

  • FII’s sold 9.9 K contract of Index Future worth 597 cores ,3.4 K Long contract were liquidated by FII’s and 6.4 K short contracts were added by FII’s. Net Open Interest increased  by 2.9  K contract, so fall in market was used by FII’s to exit long and enter shorts  in  Index futures. Would like to be able to trade without emotion.
  •  As discussed last Analysis    Below 8951/8910 bears had upper hand as we have discussed before in our analysis, High made yesterday was 8939 nifty was not able to go above 8951 and broke 8910 also, suggesting bears have upperhand and we can see all the was till 8820/8760. 8756-8760 if and when it comes is very important level, if held nifty can again make one more attempt towards 9000. Bears did 8700 below 8910, Now we are near very crucial gann line support as shown in below chart, close below Monday low of 8700 can see quick fall till 8656-8580 range. Bulls will get active only above 8760 for a move towards 8968/9000 again. Holding 8700 can lead to price and time sqaure as per gann which can lead to fast rise. 8700 should be watched closely for the coming 3 days. Will Bank Nifty Hold Demand Zone, EOD Analysis

price-and-time-swaure-12-sep

  • Nifty Sep Future Open Interest Volume is at 3.28  core with liquidation of 6.2 Lakh with increase in cost of carry suggesting short  position were added today, NF Rollover cost @8686, closed above it rallied 250 points.
  • 9000  CE  is having Highest OI  at 57.3  lakh, resistance at 9000 .8500/9000 CE  added 28.5  lakh so finally bears added aggressively in 8800  .FII bought 1  K CE longs and 0.9 K shorted CE were covered by them .Retail bought 75.2 K CE contracts and 32.8 K CE were shorted by them.
  • 8600 PE OI@57.5 lakhs having the highest OI strong support at 8600. 8300-8800 PE liquidated 40 Lakh in OI so bulls strong base of 8700-8750 zone is in danger now .FII bought 51.4 K PE longs  and 32.8 K shorted PE  were covered by them .Retail sold 100 K PE contracts and 5.8 K PE were shorted by them.
  • FII’s sold 593 cores in Equity and DII’s sold 12 cores in cash segment.INR closed at 66.92

Buy above 8750 Tgt 8770,8800 and 8830 (Nifty Spot Levels)

Sell below 8710 Tgt 8690,8675 and 8650 (Nifty Spot Levels)

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10 thoughts on “Nifty near crucial gann support,EOD Analysis

  1. Bramesh Post author

    I really do not think a trader should see global market.. if you have a system in place you just need to follow it..

  2. Rajan

    NIfty should form new high by December before a quick correction and consolidation for a year

    and then resume Bull Run.. as per historical patterns…

    Sir, ur views on this

  3. Anand

    Sensex Big Fall Expecting??? Sept 15th or 21st???

    Brameshji, Please Advise

  4. bharatkumar11

    Hi Bramesh. Had a query. The data stated by you indicates a buying of over 5500cr of options. If possible pls indicate whether its call buying or put buying.
    Thanks in advance

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