Nifty Bulls fail to close above gann angle,EOD Analysis

By | November 1, 2016

fii

  • FII’s sold 8.4 K contract of Index Future worth 535 cores ,3.3 K Long contract were liquidated by FII’s and 4.9 K short contracts were added by FII’s. Net Open Interest increased  by 1.6 K contract, so rise in market was used by FII’s to exit  long and enter shorts  in  Index futures.  Muhurat Trading: Vows Traders should make to avoid loss in coming Year
  •  As discussed last Analysis  Now bulls will become active only above 8656 for a move till 8752/8800 High made today was 8669, near the gann trendline Bulls need close above 8656 and gann angle as shown in below chart for a move till 8700/8750,  8750 will be the LOC for Bulls and bears closing above it bulls will rule bears will rule below it.  Till bulls do not close above 8656 fall till 8448 is very much on cards.  Bank Nifty trades near gann angle,EOD Analysis

nifty-gann-analysis

  • Nifty Nov Future Open Interest Volume is at 1.73 core with liquidation of 3.6 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @8705
  • 9000  CE  is having Highest OI  at 47.3 lakh, resistance at 9000 .8500/9000 CE  added 23 lakh so bears  added in 8800-9000 range  .FII bought 11.6 K CE longs and 6.1 K CE were shorted by them .Retail bought 55.7 K CE contracts and 54.6 K CE were shorted by them.
  • 8500 PE OI@42.2 lakhs having the highest OI strong support at 8500. 8500-9000 PE added 4.7 Lakh in OI so bulls  added in  8500-8600 PE but no aggressive additon as Nifty continue to close below 8750. FII bought 2.3 K  PE longs  and 6.6 K PE  were shorted by them .Retail bought 62.2 K PE contracts and 42.8 K PE were shorted by them.
  • FII’s sold 123 cores in Equity and DII’s bought 192 cores in cash segment.INR closed at 66.72

Buy above 8640 Tgt 8660,8690 and 8714 (Nifty Spot Levels)

Sell below 8600 Tgt 8580,8550 and 8520 (Nifty Spot Levels)

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