Nifty Bulls Bears fight for 8850, EOD Analysis

By | February 28, 2017

  • FII’s sold 1 K contract of Index Future worth 62 cores , 182 Long contract were liquidated by FII’s and 862 short contracts were added by FII’s. Net Open Interest increased  by 680 contract, so fall in market was used by FII’s to exit long and enter short in  Index futures. How to Learn from Trading Loss
  • As discussed in last analysis  As seen in below gann angle chart 8860-8850 is important support for the current uptrend and we also have price and time square at 8850, As per time analysis big move is round the corner  8850 is bone of contention between bull and bears if bulls are able to hold 8850 another attempt will be made to capture 9k and march towards new life highs and if bears are able to break 8850 they can see quick fall towards 8776/8712. This analysis is for discretionary traders, system trades continue to trade as per TC/Rollover analysis both of which are in short mode as of today. Nifty made low of 8867 so bulls holding on to 8850 near the gann angles, as seen in below chart. Hopefully we should get the trending move , If 8850 is held we can see upmove towards 8920/9000. Below 8850 dowmnove towards 8773/8720 Bank Nifty breaks 20750, EOD Analysis

 

  • Nifty March Future Open Interest Volume is at 2.13 core with liquidation of 0.50 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @8925 closed below it.
  • Total Future & Option trading volume at 2.57 Lakh core with total contract traded at 0.88 lakh , PCR @0.92
  • 9000  CE  is having Highest OI  at 41.3 lakh, resistance at 9000 followed by 8900 .8500-9000 CE added 4 Lakh in OI so bears added in 8900/9000 CE .FII bought 5 K CE longs and 2.5 K CE were shorted by them .Retail bought 40 K CE contracts and 35.5 K CE were shorted by them.
  • 8800 PE OI@35.5 lakhs having the highest OI strong support at 8800 followed by 8700. 8500-9000 PE  added 5.5 Lakh in OI so bulls added in 8700/8800 PE. FII bought 18.9 K PE and 2.2 K PE were shorted by them  .Retail bought 22.2 K PE contracts and 34.9 K PE were shorted by them.
  • FII’s bought 1146 cores in Equity and DII’s bought 268  cores in cash segment.INR closed at 66.69

Buy above 8888 Tgt 8907,8932 and 8950 (Nifty Spot Levels)

Sell below 8860 Tgt 8840,8830 and 8810 (Nifty Spot Levels)

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4 thoughts on “Nifty Bulls Bears fight for 8850, EOD Analysis

  1. kumar

    one confusion, u write thatg the fll in the market was used by FFIs to build shorts or get out of longs. is it ot the other way round the Fiis action did all this?

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