Nifty continue its rally breaking 8177,EOD Analysis

By | December 1, 2016

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  • FII’s bought 10.6 K contract of Index Future worth 658 cores ,7.6 K Long contract were added by FII’s and 2.9  K short contracts were liquidated by FII’s. Net Open Interest increased  by 4.7 K contract, so rise in market was used by FII’s to enter long and exit shorts  in  Index futures. Why Traders are unable to Follow Your Trading Plan
  • As discussed in last analysis  Gann Analysis again helped us in capturing the short term bottom at 7916 and  big rally above 8010 for a move towards 8060 and 8130, High made was 8122.  Low made today was 8066 near the previous resistance zone of 8060,  Now Bulls need a move above 8177 for next move towards 8257/8338. High made today was 8197 but were unable to close above 8177, suggesting bullish momentum is waning after 281 point rise but till we do not close below 8066 bulls are having upper hand. Close above 8177 we can see fast move towards 8250/8337. Bearish below 8050 for a move towards 8000/7950. As soon as 8177 was crossed impulsive move came and nifty made high  of 8235 and mostly should do today 8257. Till 8177 is held Nifty can move all the way towards 8318/8444. Bears will get active below 8100 only.   Bank Nifty Bulls again hold to gann angle,EOD Analysis

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  • Nifty Dec Future Open Interest Volume is at 1.56 core with addition of 5 Lakh with decrease in cost of carry suggesting short  position were added today, NF Rollover cost @8049 closed above it.
  • Total Future & Option trading volume at 3.63 Lakh core with total contract traded at 1.41  lakh , PCR @0.99.
  • 8300  CE  is having Highest OI  at 42.4 lakh, resistance at 8300 followed by 8500 .7900/8500 CE  added 0.56  lakh so bears added in 8400/8500 CE and liquidated in 7900/8000 CE .FII bought 11.2 K CE longs and 2.7 K CE were shorted by them .Retail sold  15.5 K CE contracts and 12.1 K CE were shorted by them.
  • 8000 PE OI@73.9 lakhs having the highest OI strong support at 8000. 7900-8500 PE added 10.9 Lakh in OI so bulls  added aggressively in 8100/8000 PE. FII bought 7.2 K  PE longs  and 7.6 K PE were shorted by them .Retail bought 83.6 K PE contracts and 49.4 K PE were shorted by them.
  • FII’s sold 434 cores in Equity and DII’s bought 676 cores in cash segment.INR closed at 68.39

Buy above 8235 Tgt 8260,8284 and 8340 (Nifty Spot Levels)

Sell below 8190 Tgt 8165,8150 and 8110 (Nifty Spot Levels)

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