Nifty Close above 8675 heading towards 8800,EOD Analysis

By | February 1, 2017

  • FII’s bought 2.7 K contract of Index Future worth 119 cores ,11.2 K Long contract were added by FII’s and 8.5 K short contracts were added by FII’s. Net Open Interest decreased  by 19.8 K contract, so rise in market was used by FII’s to enter long and enter  long in  Index futures. Common Excuses Made By Losing Traders
  • As discussed in last analysis   As we have budget tomorrow Breakout above 8675 for a move towards 8710/8775/8820. Bearish below 8550 for a move till 8480/8410. Range of Budget can be in between 8410-8710. Nifty went below 8550 during budget speech and shorts taken got stopped out but as soon as 8675 was broken nifty did 8710 and closed at the highest point of the day. Holding 8710 nifty is headed towards 8800/8860. Bearish only on close below 8500.  Bank Nifty rallies 500 points from Gann Arc,EOD Analysis

  • Nifty Feb Future Open Interest Volume is at 2.08 core with addition of 14.1 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @8468.
  • Total Future & Option trading volume at 6.55 Lakh core with total contract traded at 2.5 lakh , PCR @0.95
  • 9000  CE  is having Highest OI  at 61.1 lakh, resistance at 9000 followed by 8700 .8400-9000 CE added 11.1 Lakh in OI so bulls added in 8900/9000 CE .FII bought 13.3 K CE longs and 4 K shorted CE were covered by them .Retail bought 39.2 K CE contracts and 36.2 K CE were shorted  by them.
  • 8400 PE OI@45.7 lakhs having the highest OI strong support at 8400 followed by 8200. 8400-9000 PE added 14 Lakh in OI so bulls added in 8400/8500 PE. FII bought 7.7 K shorted PE were covered by them and 6.6 K PE were shorted by them .Retail bought 108 K PE contracts and 69 K PE were shorted by them.
  • FII’s bought 92 cores in Equity and DII bought 1133 cores in cash segment.INR closed at 67.46

Buy above 8750  Tgt 8780,8820 and 8845 (Nifty Spot Levels)

Sell below 8655 Tgt 8625,8600 and 8580 (Nifty Spot Levels)

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5 thoughts on “Nifty Close above 8675 heading towards 8800,EOD Analysis

  1. mojha48@gmail.com

    Dear Sir,
    There is a typo mistake on EOD analysis from 1st Feb 2017. (net open interest increased by instead of decreased.)

  2. Bramesh Post author

    Depends on what strategy you are following back testing the same will give you the right answer..

  3. khushibagra

    II’s bought 2.7 K contract of Index Future worth 119 cores ,11.2 K Long contract were added by FII’s and 8.5 K short contracts were added by FII’s. Net Open Interest decreased by 19.8 K contract, so rise in market was used by FII’s to enter long and enter long in Index futures.

    sir ,OI increased …i think it was a typo

  4. vicky

    sir how much time we should wait for entering a trade in nf or bnf…after market opens….coz i have lost money whenever i traded just after 1 or 2 minutes of market opening..plz give some guidance on this..thanks

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