Nifty bounces holding gann support,EOD Analysis

By | March 1, 2017

  • FII’s bought 2.8 K contract of Index Future worth 169 cores , 6.8 K Long contract were added by FII’s and 4K short contracts were added by FII’s. Net Open Interest increased  by 10.9 K contract, so rise in market was used by FII’s to enter long and exit short in  Index futures. Learn from Your Trading Mistakes
  • As discussed in last analysis   Nifty made low of 8867 so bulls holding on to 8850 near the gann angles, as seen in below chart. Hopefully we should get the trending move , If 8850 is held we can see upmove towards 8920/9000. Below 8850 dowmnove towards 8773/8720. Nifty opened gap up and trades who went long as 8850 was protected were rewarded as we did 8920 and high made was 8960. Hopefully we should do 9000 and break the gann arc. Bulls need a fresh close above 8989 for a move towards 9083 which should be very fast. Bearish only on break of 8850.As per our time cycle we got the trending move. Will Bank Nifty break gann arc, hit 21000,EOD Analysis

  • Nifty March Future Open Interest Volume is at 2.13 core with liquidation of 0.50 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 2.57 Lakh core with total contract traded at 0.88 lakh , PCR @0.92
  • 9000  CE  is having Highest OI  at 46.1 lakh, resistance at 9000 followed by 8900 .8500-9000 CE added 2.22 Lakh in OI so bears added in 8900/9000 CE .FII bought 12.6 K CE longs and 10 K CE were shorted by them .Retail bought 22.3 K CE contracts and 23.7 K CE were shorted by them.
  • 8800 PE OI@39.3 lakhs having the highest OI strong support at 8800 followed by 8700. 8500-9000 PE  added 13 Lakh in OI so bulls added in 8700/8800 PE. FII bought 12.6 K PE and 10 K PE were shorted by them  .Retail bought 57.8 K PE contracts and 43.7 K PE were shorted by them.
  • FII’s sold 198 cores in Equity and DII’s bought 254 cores in cash segment.INR closed at 66.82

Buy above 8972 Tgt 8997,9030 and 9060 (Nifty Spot Levels)

Sell below 8930 Tgt 8910,8875 and 8850 (Nifty Spot Levels)

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