Nifty sees small correction unable to close above gann angle,EOD Analysis

By | April 8, 2017

  • FII’s sold 6.9 K contract of Index Future worth 508 cores ,2.2 K Long contract were liquidated by FII’s and 4.6 K Short contracts were added by FII’s. Net Open Interest increased  by 2.3 K contract, so fall in market was used by FII’s to exit  long and enter short in  Index futures. Keep Mind Where You Are
  • As discussed in last analysis    High made today was 9268 again near the gann angles, and low made was 9218 so we made an INSIDE Bar candle today, Now plan remains the same buy above 9268 for a move towards 9312/9360/9410. Bearish below 9200 for a move towards 9130/9030. Nifty continue to trade below the gann angle as high made today was also 9250 so we are unable to close above the gann level of 9268, and we closed below 9200 so we are heading towards 9130/9070/9020 range. Bullish only on close above 9268.  Bank Nifty close below 21500,EOD Analysis

  • Nifty April Future Open Interest Volume is at 2.10 core with liquidation of 3.1 Lakh with increase in  cost of carry suggesting short position were added today, NF Rollover cost @9148 closed above it.
  • Total Future & Option trading volume at 3 Lakh core with total contract traded at 1 lakh , PCR @0.93
  • 9500  CE  is having Highest OI  at 49.7  lakh, resistance at 9300 followed by 9500 .9000-9500 CE added 25 Lakh in OI so bears making resistance around 9300-9500 range.FII bought 1.2 K CE longs and 7.8 K  CE were shorted by them.Retail bought 67.8 K CE contracts and 30.3 K  CE were shorted  by them.
  • 9000 PE OI@53.9 lakhs having the highest OI strong support at 9000 followed by 8900. 9000-9500 PE liquidated  5 Lakh in OI so bulls added in 9000/8900 PE . FII bought 24.2 PE and 4.1 K PE were shorted by them  .Retail sold  9.5 K PE contracts and 21.5K  PE were shorted  by them.
  • FII’s bought 142 cores in Equity and DII’s sold 205 cores in cash segment.INR closed at 64.28

Buy above 9213 Tgt 9236,9250 and 9268 (Nifty Spot Levels)

Sell below 9173 Tgt 9150,9110 and 9070 (Nifty Spot Levels)

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