Nifty Forms Inside bar pattern,EOD Analysis

By | February 11, 2017

  • As discussed in last analysis   we are still holding 8681 suggesting bulls are still having upper hand eventhough we are not able to cross the gann arc, as shown in below chart. Bearish only on close below 8681 and bullish above 8840 in between choppy move continue.  High made today was 8822 and low made was 8771 so we did not break 8840 on Upside and 8681 on downside forming an inside day pattern suggesting choppy move to continue, Bulls should protect 8681 and till its protected move towards 8969 and above is quiet possible. Once the Gann arc as shown below is broken bulls will shown an impulsive move on upside.  Bank Nifty form inside day pattern,EOD Analysis

  • Nifty Feb Future Open Interest Volume is at 2.16 core with liquidation of 0.75 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @8468.
  • Total Future & Option trading volume at 2.82 Lakh core with total contract traded at 0.87 lakh , PCR @0.94
  • 9000  CE  is having Highest OI  at 68.9 lakh, resistance at 9000 followed by 8900 .8500-9000 CE added 10.4 Lakh in OI so bears added in 8800/9000 CE .FII bought 11.9 K CE longs and 8.3 K CE were shorted by them .Retail bought 36.8 K CE contracts and 31.1 K CE CE were shorted them.
  • 8500 PE OI@61.4 lakhs having the highest OI strong support at 8500 followed by 8600. 8500-9000 PE added 5.8 Lakh in OI so bulls added in 8500/8600 PE. FII bought 13 K PE and 5.5 K PE were shorted by them  .Retail bought 29.4  K PE contracts and 23.1 K PE were shorted by them.
  • FII’s bought 504 cores in Equity and DII bought 224 cores in cash segment.INR closed at 66.88

Buy above 8822  Tgt 8840,8870 and 8900 (Nifty Spot Levels)

Sell below 8770 Tgt 8750,8720 and 8681 (Nifty Spot Levels)

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