Nifty make life High holding gann level of 8850, EOD Analysis

By | March 15, 2017

  • FII’s bought 26.8 K contract of Index Future worth 1837 cores , 35 K Long contract were added by FII’s and 8.2 K long contracts were added by FII’s. Net Open Interest increased  by 43.3 K contract, so rise in market was used by FII’s to enter long and exit short in  Index futures. How Kobe Bryant Made it to the Top
  • As discussed in last analysis  Nifty will open with huge gap on Monday and can hit a new life highs, but does it mean that we blindly go long, As a matter of fact on May 16 when BJP got majority in Lok Sabha we closed marginally in green after an upmove of more than 6%. Volatility will be the name of the game as we move in an uncharted territory above 9120. Levels to watch on Tuesday and next few days will be 9081/9212/9362/9468. Look at the open price and if nifty trades below open price than only traders should go short with 20 points sl. Nifty made a new high today at 9122 and also closed above 9081 as we have been discussing in past few analysis till 8860 is not broken we can see march towards new highs Thats Beauty of gann its keep you ahead of the curve, Today high@9122  was at very crucial juncture as seen in below Gann chart, I would give 9122 as make or break of level, for next few days, as closing above it we can see move towards 9212/9362/9468 in next 1 months and unable to cross above it correction till 9000/8860. Bank Nifty does 21250 Holding Gann Angle,EOD Analysis

  • Nifty March Future Open Interest Volume is at 2.51 core with addition of 18.4 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @8925 closed above it before election results and rewarded big time.
  • Total Future & Option trading volume at 4.55 Lakh core with total contract traded at 1.90 lakh , PCR @0.91
  • 9200  CE  is having Highest OI  at 54 lakh, resistance at 9200 followed by 9500 .8800-9500 CE liquidated 51.3 Lakh in OI so bears were caught off guard and ran for cover. So watch out for 9300 CE on Tuesday   .FII bought 10.5 K CE longs and 34.4 K shorted  CE were covered by them .Retail sold 35 K CE contracts and 21 K  CE were shorted by them.
  • 8900 PE OI@44.8 lakhs having the highest OI strong support at 8900 followed by 8800. 8800-9500 PE  added 42.3  Lakh in OI so bulls added in 8900/9000 PE. FII bought 13.1 K PE and 9.3 K PE were shorted by them  .Retail bought 67.9 K PE contracts and 24.6 K PE were shorted by them.
  • FII’s bought 4087 cores in Equity and DII’s sold 1519 cores in cash segment.INR closed at 65.80

Buy above 9097 Tgt 9120,9145 and 9172 (Nifty Spot Levels)

Sell below 9050 Tgt 9025,9000 and 8976 (Nifty Spot Levels)

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