Nifty Technical Analysis for Feb Expiry

By | February 22, 2017

  • FII’s sold 3.9 K contract of Index Future worth 272 cores , 10.1 K Long contract were added by FII’s and 14 K short contracts were added by FII’s. Net Open Interest increased  by 24.1 K contract, so rise in market was used by FII’s to enter long and enter short in  Index futures. The Role of Regret in Trading
  • As discussed in last analysis   Bulls now need a close above 8910 as its the gann angle resistance as shown in below chart, closing above it Nifty can move towards 8981/9050/9120. Range of 8900-9000 is again supply zone as nifty so move will be slow and time confusing, more time spent around this range better for market for the next leg of upmove. Bearish only on close below 8788 for a move towards 8720/8681. High made today was 8960 near our target of 8981 and closed above 8910 suggesting another attempt will be made to break the range of 8981 for next move towards 9050/9120. As the market moves higher traders need to tighter there SL, As per gann analysis only on close below 8827 the current uptrend will end, Till 8827 is held bulls will make merry and move towards the life highs of 9120. Trailing position is the best way to ride such strong trending market and not speculating when market will form a top. Bank Nifty Technical Analysis for Feb Expiry

  • Nifty Feb Future Open Interest Volume is at 1.34 core with liquidation of 28.3 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @8468 rallied 500 points above it
  • Total Future & Option trading volume at 6.81 Lakh core with total contract traded at 1.55 lakh , PCR @0.94
  • 9000  CE  is having Highest OI  at 71.3 lakh, resistance at 9000 followed by 8900 .8800-9000 CE added 5.7 Lakh in OI so bears added aggressively  in 9000 CE, bears will run for cover as soon as 9012 gets broken tomorrow,till 9012 is not broken they are safe  .FII bought 2.3 K CE longs and 11.9 K CE were shorted by them .Retail bought 42.6 K CE contracts and 15 K CE were shorted by them.
  • 8800 PE OI@47.8 lakhs having the highest OI strong support at 8800 followed by 8700. 8800-9000 PE  added 15.3 Lakh in OI so bulls added in 8800/8900 PE, Bulls will protect 8900 and bears 9000 break on anyside can give fast 30-50 points in last 30 mins of trading tommrow. FII sold 3.6 K PE and 27.3 K PE were shorted by them  .Retail bought 36.5 K PE contracts and 3.5 K PE were shorted by them.
  • FII’s sold 259 cores in Equity and DII’s bought 918  cores in cash segment.INR closed at 66.95

Buy above 8930  Tgt 8951,8980 and 9012 (Nifty Spot Levels)

Sell below 8900 Tgt 8875,8850 and 8835 (Nifty Spot Levels)

Upper End of Expiry : 9012

Lower End of Expiry :8875

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3 thoughts on “Nifty Technical Analysis for Feb Expiry

  1. Mahesh Bhatnagar

    You used the word “tomorrow”. Did you use it right?
    I dont think 9012 can happen tomorrow!
    Please reply with your view.

  2. Mahesh Bhatnagar

    How sure are you that nifty will break 8987 tomorrow?

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