Nifty breaks 8656 and does 8600, Oct Expiry Analysis

By | October 26, 2016

fii

  • FII’s sold 4.7 K contract of Index Future worth 232 cores ,3.8 K Long contract were added by FII’s and 8.6 K short contracts were added by FII’s. Net Open Interest increased  by 12.5 K contract, so fall in market was used by FII’s to enter long and enter shorts  in  Index futures.  Why Do Traders Lose? Part-I
  •  As discussed last Analysis 8710-8732 is crucial range for bulls as its gann resistance  and 8601-8610 is support on downside below which bears will start   warming up again. Between the range choppy move continue. High made today was 8722 so bulls were unable to breach the gann resistance zone, Its been 4 trading days in which bulls were not able to break the resistance zone, Low made was 8663 so bears were unable to break 8656. Now bears if they break below 8656 can see fast impulsive fall towards 8600/8555. Bullish only on close above 8750 for a move towards 8840/8900. Nifty opened at 8657 and as soon as 8656 bears became active and pushed nifty towards, now closing below 8600 can see nifty correcting 8555/8511. Bullish only above 8656.   Nifty Bank Nifty breaks 19700 and does 19500 same day,EOD Analysis

nifty-support-gann_1

  • Nifty Oct Future Open Interest Volume is at 1.23 core with liquidation of 16.5 Lakh with decrease in cost of carry suggesting short position were closed today, NF Rollover cost @8777,corrected 250 points.
  • 8800  CE  is having Highest OI  at 60.4 lakh, resistance at 8800 .8600/8800 CE  added 35.3 lakh so bears  added in 8700-8800 range  .FII sold 0.02 K CE longs and 4 K CE were shorted by them .Retail bought 92.6 K CE contracts and 12 K CE were shorted by them.
  • 8500 PE OI@50 lakhs having the highest OI strong support at 8500. 8500-8700 PE liquidated 31 Lakh in OI so bulls  ran for cover in 8700-8600 PE as Nifty continue to close below 8750. FII bought 4.1 K  PE longs  and 11.6 K shorted PE  were covered by them .Retail sold 56 K PE contracts and 13.8 K shorted PE were covered by them.
  • FII’s sold 1450 cores in Equity and DII’s bought 989 cores in cash segment.INR closed at 66.83

Buy above 8625 Tgt 8649,8670 and 8700 (Nifty Spot Levels)

Sell below 8585 Tgt 8560,8530 and 85001 (Nifty Spot Levels)

Upper End of Expiry:8680

Lower End of Expiry:8550

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9 thoughts on “Nifty breaks 8656 and does 8600, Oct Expiry Analysis

  1. Raj

    Sir, could you please let me know how you arrived at upper end and lower end of expiry.

    Nifty expired exactly at the mid point of the range mentioned by you.

  2. soniya

    Trend Deciding level should be 8633….seems typing error sir..

  3. Ramesh

    Thank you ji. Hearty thankful to you for your analysis report after market hours daily. I used to see daily your report which is very useful on next day trading.

  4. Ramesh

    Hi brahmesh hi,
    Would you please clarify?
    FII bought 4.1 K PE longs and 11.6 K shorted PE were covered by them .Retail sold 56 K PE contracts and 13.8 K shorted PE were covered by them.

    Here Retail bought or sold PE?

  5. Sashank

    Sir, could you please let me know how you arrived at upper end and lower end of expiry. Thanks.

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