Nifty Technical Structure before the US Election

By | November 7, 2016

fii

  • FII’s sold 3.7 K contract of Index Future worth 235 cores ,11.7  K Long contract were liquidated by FII’s and 8 K short contracts were liquidated by FII’s. Net Open Interest decreased  by 19.8 K contract, so rise in market was used by FII’s to exit  long and exit shorts  in  Index futures.  Arrogance, in varied degrees, before the fall starts
  • Lot of Discussion are happening on how market will react after the US Election results are declared, As per my Understanding Market is like a Wild Elephant, it will move in t direction which surprises maximum number of participants and cause pain to maximum number of participant, So as a trader instead of focusing on outcome of election work on How will you react to the market moves and how strong you are in your risk and money management is what will count. Traders trading on capital less than 5 lakhs should avoid trading till Thursday and let the dust settle so that they do not get whipped by the volatility which will come as a part of event, Protection of Capital is the first and foremost GOAL of trader. For tomorrow above 8550 can see move towards 8626.  8686 is the number Bulls and bears should watch on upside, closing above it can see fast move towards 8900. Bears should with for close below 8400 for move towards 8287/8200.    Bank Nifty does ABCD pattern target,EOD Analysis

nifty-gann-analysis

  • Nifty Nov Future Open Interest Volume is at 1.60 core with liquidation of 11.6 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @8705 made high at 8704 on Tuesday and correction of 300 points.
  • 9000  CE  is having Highest OI  at 60.7 lakh, resistance at 9000 .8500/9000 CE  added 5.8 lakh so bears  added in 8800-8900 range  .FII sold 0.8 K CE longs and 2.7  K CE were shorted by them .Retail bought 9.9 K CE contracts and 13.7 K CE were shorted by them.
  • 8200 PE OI@48 lakhs having the highest OI strong support at 8400 followed by 8200. 8500-9000 PE added 1.3 Lakh in OI so bulls added in 8200 PE aggresively. FII bought 2.3 K  PE longs  and 4.2 K PE  were shorted by them .Retail bought 26.7 K PE contracts and 17.6 K PE were shorted by them.
  • FII’s bought 311 cores in Equity and DII’s bought 779 cores in cash segment.INR closed at 66.73

Buy above 8510 Tgt 8525,8560 and 8600 (Nifty Spot Levels)

Sell below 8470 Tgt 8450,8420 and 8380 (Nifty Spot Levels)

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