Nifty does 8900 holding 8681,EOD Analysis

By | February 19, 2017

 

  • FII’s sold 8.1 K contract of Index Future worth 718 cores ,303 Long contract were added by FII’s and 8.4 K short contracts were added by FII’s. Net Open Interest increased  by 8.7 K contract, so rise in market was used by FII’s to exit long and enter short in  Index futures. Recency Bias and Its Influence in Trading
  • As discussed in last analysis  Low made today was 8712 and high made was 8809 so still 8681 is held on downside and 8840 playing a major role on restricting upside suggesting choppy move continues we did not get the range breakout . Weekly closing tomorrow Bulls need a close above 8774. Thursday we closed above 8778 and big gap up on Friday, Now 8763 will become the new 8681. Bulls should protect 8763 and close above 8840 for the move towards 8900/8969/9120 intact in coming days, Bearish below 8763 for a move towards 8710/8630. As per Time Analysis 20 Feb is very crucial day can see good move in next 2 days again. Bank Nifty hit life highs holding 20000,EOD Analysis

  • Nifty Feb Future Open Interest Volume is at 2.42 core with liquidation of 3.6 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @8468.
  • Total Future & Option trading volume at 5.31 Lakh core with total contract traded at 1.37 lakh , PCR @0.98
  • 9000  CE  is having Highest OI  at 68.9  lakh, resistance at 9000 followed by 8900 .8500-9000 CE liquidated 19.3 Lakh in OI so bears liquidated in 8700/9000 CE .FII bought 15.3 K CE longs and 170 shorted CE were covered by them .Retail sold 16.6 K CE contracts and 174 CE were shorted by them.
  • 8500 PE OI@50.6 lakhs having the highest OI strong support at 8500 followed by 8600. 8500-9000 PE  added 6.3 Lakh in OI so bulls added in 8700/8600 PE. FII bought 7.1 K PE and 4.8 K PE were shorted by them  .Retail bought 45.5 K PE contracts and 42.7 K PE were shorted by them.
  • FII’s bought 8831 cores in Equity and DII’s sold 5631 cores in cash segment.INR closed at 67.01

Buy above 8841  Tgt 8877,8900 and 8933 (Nifty Spot Levels)

Sell below 8800 Tgt 8785,8763 and 8740 (Nifty Spot Levels)

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2 thoughts on “Nifty does 8900 holding 8681,EOD Analysis

  1. anand

    Bramesh,

    please educate us on Gann angles forecasting, the above image is showing some dates but could not decipher to say

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