Nifty Bears rewarded by holding nifty below gann angle,EOD Analysis

By | November 2, 2016

fii

  • FII’s sold 13.3 K contract of Index Future worth 802 cores ,5.6 K Long contract were liquidated by FII’s and 7.7 K short contracts were added by FII’s. Net Open Interest increased  by 2 K contract, so fall 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. Gann Analysis gives an edge as you are on right side of move most of the time, as seen in below chart we were not able to close above gann angle also 8656 levels suggesting bears have upper hand and today gap down we did low of 8504, now 8448-8444 level if and when it comes is very strong support zone, holding the same we can see a very sharp recovery, breaking the same we can correct till 8200. Bank Nifty does 19200 below 19500,EOD Analysis

nifty-gann-analysis

  • Nifty Nov Future Open Interest Volume is at 1.72 core with liquidation of 1.5 Lakh with increase in cost of carry suggesting short  position were added today, NF Rollover cost @8705 made high at 8704 on Tuesday and correction of 150 points.
  • 9000  CE  is having Highest OI  at 52.1 lakh, resistance at 9000 .8500/9000 CE  added 21.5 lakh so bears  added in 8800-9000 range  .FII sold 335 CE longs and 15.9 K CE were shorted by them .Retail bought 96 K CE contracts and 42.4 K CE were shorted by them.
  • 8500 PE OI@41.4 lakhs having the highest OI strong support at 8500. 8500-9000 PE liquidated 10.2 Lakh in OI so bulls  ran for cover in  8500-8600 PE. FII bought 36.7 K  PE longs  and 10.6 K PE  were shorted by them .Retail bought 10.1 K PE contracts and 38.8 K PE were shorted by them.
  • FII’s sold 667 cores in Equity and DII’s bought 407 cores in cash segment.INR closed at 66.72

Buy above 8540 Tgt 8567,8585 and 8602 (Nifty Spot Levels)

Sell below 8495 Tgt 8478,8450 and 8420 (Nifty Spot Levels)

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2 thoughts on “Nifty Bears rewarded by holding nifty below gann angle,EOD Analysis

  1. kashmira

    Sir, Is it necessary that nifty should touch trend deciding level either intraday or positonal??In above case trend deciding level is 8644 so is it possible that nifty will go upto 8644 from 8500?

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