Nifty Chart Analysis before Election Results

By | March 9, 2017

  • FII’s sold 8.9 K contract of Index Future worth 617 cores , 3.3 K Long contract were liquidated by FII’s and 5.5 K long contracts were added by FII’s. Net Open Interest increased  by 2.1 K contract, so rise in market was used by FII’s to exit long and enter short in  Index futures. How Ordinary People Became Millionaire Traders
  • As discussed in last analysis  Nifty gave a good move today and today low is near the gann angle as shown in below chart. So Shorts can be taken below 8890 for a move towards 8850/8800/8757. Bullish above 8995 for a move towards 9033/9080 Exit Poll results will be coming out tomorrow 5:30 PM Low made today was 8899 and high made was 8946 so both bulls and bears were not able to break the range we mentioned. Plan remains the same short below 8890 gann angle support for a move towards 8850/8780/8720 and long above 8895 break gann angle for a move towards 9033/9080/9120 Bank Nifty Chart Analysis before Election Results

  • Nifty March Future Open Interest Volume is at 2.27 core with addition of 5.8 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @8925 closed above it.
  • Total Future & Option trading volume at 6.80 Lakh core with total contract traded at 0.93 lakh , PCR @0.73
  • 9000  CE  is having Highest OI  at 64.8 lakh, resistance at 9000 followed by 8900 .8500-9000 CE added 14 Lakh in OI so bears added in 9000 CE  .FII bought  2.3 K CE longs and 17.7 K CE were shorted by them .Retail sold 71.8 K CE contracts and 54.9 K shorted CE were covered by them.
  • 8800 PE OI@41.9 lakhs having the highest OI strong support at 8800 followed by 8700. 8500-9000 PE  added 12.3 Lakh in OI so bulls added in 8900/9000 PE. FII bought 3.2 K PE and 5.6 K PE were shorted by them  .Retail sold 62.9 K PE contracts and 55.5 K shorted PE were covered by them.
  • FII’s bought 487 cores in Equity and DII’s sold 10 cores in cash segment.INR closed at 66.71

Buy above 8950 Tgt 8970,8995 and 9021 (Nifty Spot Levels)

Sell below 8900 Tgt 8877,8856 and 8830 (Nifty Spot Levels)

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