Nifty moves from 1 Gann Angle to another,EOD Analysis

By | March 27, 2017

  • FII’s sold 6.9 K contract of Index Future worth 488 cores ,4.2 K Long contract were added by FII’s and 11.2 K Short contracts were added by FII’s. Net Open Interest increased  by 15.5 K contract, so fall 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   Now bulls need close above 9130 for a move towards 9174/9216. Bearish below 9070 for a move towards 9020/8968. Nifty as soon as broke 9070 move down and did the target of 9020 low made was 9024. This is how we can capture a small move as price move for 1 gann angle to anther. Now again if we held on to 9030-9035 range we can again see move towards 9070-9115. Range expansion can be seen only on close above 9130 for a move towards 9216 and Bearish on close below 8992 for a move towards 8920.   Bank Nifty continue to hold 21050,EOD Analysis

  • Nifty March Future Open Interest Volume is at 2.13 core with Liquidation of 44 Lakh with decrease in cost of carry suggesting short position were added today, NF Rollover cost @8925 closed above it before election results and rewarded big time.
  • Total Future & Option trading volume at 5.1 Lakh core with total contract traded at 0.93 lakh , PCR @0.88
  • 9200  CE  is having Highest OI  at 69.8 lakh, resistance at 9200 followed by 9250 .8800-9500 CE added 2 Lakh in OI so bears added in 9100-9200 CE.FII sold 3 K CE longs and 2.3 K shorted CE were covered by them.Retail bought 42.1 K CE contracts and 22.1 K CE were shorted by them.
  • 8800 PE OI@52.5  lakhs having the highest OI strong support at 8800 followed by 8900. 8800-9500 PE liquidated 9.1 Lakh in OI so bulls liquidated in 9100 PE. FII bought 2.3 K PE and 611 shorted PE were covered by them  .Retail bought 17.5 K PE contracts and 17.7 K PE were shorted by them.
  • FII’s bought 577 cores in Equity and DII’s sold 594 cores in cash segment.INR closed at 65.04

Buy above 9056 Tgt 9085,9110 and 9130 (Nifty Spot Levels)

Sell below 9010 Tgt 8985,8969 and 8945 (Nifty Spot Levels)

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