Nifty trading near gann support zone,EOD Analysis

By | November 3, 2016

fii

  • FII’s sold 6.3 K contract of Index Future worth 416 cores ,5.6 K Long contract were liquidated by FII’s and 0.6 K short contracts were added by FII’s. Net Open Interest decreased  by 5 K contract, so fall in market was used by FII’s to exit  long and enter shorts  in  Index futures.  Traders should -Specialize or Diversify
  •  As discussed last Analysis  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. Low made today was 8484, we are going in the demand zone so its prudent to cut short and do fresh shorting only below 8400 level, As we have US election overhand till 09 Nov its prudent to trade less,Long can be taken in range of 8444-8476 if and when it comes with strict sl of 8420 expecting a recovery  till 8520/8600.  Bank Nifty continue to trade below gann arc,EOD Analysis

nifty-gann-analysis

  • Nifty Nov Future Open Interest Volume is at 1.70 core with liquidation of 1.7 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 200 points.
  • 9000  CE  is having Highest OI  at 56 lakh, resistance at 9000 .8500/9000 CE  added 20 lakh so bears  added in 8600-8800 range  .FII sold 3.6 K CE longs and 14.9 K CE were shorted by them .Retail sold 61.5 K CE contracts and 63.7 K shorted CE were covered by them.
  • 8400 PE OI@37.8 lakhs having the highest OI strong support at 8500. 8500-9000 PE liquidated 11 Lakh in OI so bulls  ran for cover in  8500-8600 PE. FII bought 16.7 K  PE longs  and 4.6 K PE  were shorted by them .Retail bought 68.8 K PE contracts and 38.8 K shorted PE were covered by them.
  • FII’s sold 706 cores in Equity and DII’s bought 534 cores in cash segment.INR closed at 66.75

Buy above 8500 Tgt 8523,8560 and 8584 (Nifty Spot Levels)

Sell below 8460 Tgt 8438,8420 and 8400 (Nifty Spot Levels)

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