Nifty bounces from gann angle,EOD analysis

By | March 23, 2017

  • FII’s bought 2 K contract of Index Future worth 101 cores ,3.6 K Long contract were added by FII’s and 1.5 K Short contracts were added by FII’s. Net Open Interest increased  by 5.1 K contract, so rise in market was used by FII’s to enter long and enter short in  Index futures. Successful traders have a lot to learn from sportsmen
  • As discussed in last analysis  Nifty gave the big move we were expecting as per time cycle but it happened in gap down most of the trades missed the move. Range of 9030-9036 proved to be strong resistance as Nifty closed at 9030 and was holding on to range of 9036 for most part of the day. Bulls should keep eye on 9040 close above it back to 9100-9130 range. Bearish below 9000 for a move till 8969-8920. Low made today was 9048 so yesterday Nifty held on to 9030 and bounced back from 1 gann angle to another one. Now Nifty trading above 9100 will be very bullish and we can see move towards 9174/9220. Bearish only below 9000.   Will Bank Nifty give Weekly close above 21000,EOD Analysis

  • Nifty March Future Open Interest Volume is at 2.62 core with addition of 0.34 Lakh with increase in cost of carry suggesting short position were closed today, NF Rollover cost @8925 closed above it before election results and rewarded big time.
  • Total Future & Option trading volume at 7.1 Lakh core with total contract traded at 0.97 lakh , PCR @0.79
  • 9200  CE  is having Highest OI  at 60.7 lakh, resistance at 9100 followed by 9200 .8800-9500 CE liquidated  15.6 Lakh in OI so bears ran for cover in 9100-9200 CE.FII bought 4.1 K CE longs and 3.5 K  shorted CE were covered by them .Retail sold 130 K CE contracts and 64.1 K shorted CE were covered by them.
  • 8800 PE OI@55.4 lakhs having the highest OI strong support at 8800 followed by 8900. 8800-9500 PE added 16.1 Lakh in OI so bulls added in 9000-9100 PE. FII bought 3 K PE and 2.5 K PE were shorted by them  .Retail sold 6.3 K PE contracts and 13.7 K shorted PE were covered by them.
  • FII’s bought 1094 cores in Equity and DII’s sold 590 cores in cash segment.INR closed at 65.53

Buy above 9130 Tgt 9157,9180 and 9210 (Nifty Spot Levels)

Sell below 9072 Tgt 9056,9027 and 9000 (Nifty Spot Levels)

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