Nifty ready for trending move, EOD Analysis

By | February 28, 2017

  • FII’s sold 2.4 K contract of Index Future worth 156 cores , 2.5 K Long contract were liquidated by FII’s and 33 short contracts were liquidated by FII’s. Net Open Interest decreased  by 2.5 K contract, so fall in market was used by FII’s to exit long and exit short in  Index futures. The Role of Regret in Trading
  • As discussed in last analysis  High made was 8982 near the gann angle resistance level, as we have been discussing in process doing our target of 8982 above 8910. Bulls should protect the level of 8847 now for the current trend to continue. Fresh long above 8990 for move towards 9060/9120. Bearish only below 8840 for a move towards 8757/8700/8672 Nifty made high of 8951 and low of 8888 so bulls were unable to break the gann angle resistance of 8982 and bears were unable to break the support of 8850 and trading between the range,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.  Bank Nifty breaks 20750, EOD Analysis

  • Nifty March Future Open Interest Volume is at 2.13 core with liquidation of 4.6 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 2.41 Lakh core with total contract traded at 1.74 lakh , PCR @1.04
  • 9000  CE  is having Highest OI  at 39.3 lakh, resistance at 9000 followed by 8900 .8500-9000 CE added 11.1 Lakh in OI so bears added in 8900/9000 CE .FII bought 10 K CE longs and 10.2 K CE were shorted by them .Retail bought 90 K CE contracts and 64.3 K CE were shorted by them.
  • 8700 PE OI@32 lakhs having the highest OI strong support at 8700 followed by 8500. 8500-9000 PE  added 23.1 Lakh in OI so bulls added in 8700/8800 PE. FII bought 19.1 K PE and 10.8 K PE were shorted by them  .Retail bought 43 K PE contracts and 49.9 K PE were shorted by them.
  • FII’s sold 145 cores in Equity and DII’s bought 264  cores in cash segment.INR closed at 66.71

Buy above 8920  Tgt 8932,8955 and 8981 (Nifty Spot Levels)

Sell below 8890 Tgt 8875,8850 and 8835 (Nifty Spot Levels)

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