Will Nifty Bears be Whipsawed again?

By | June 15, 2017

  • FII’s sold 8.4 K contract of Index Future worth 578 cores ,3.1 K Long contract were liquidated by FII’s and 5.3 K Short contracts were added by FII’s. Net Open Interest increased  by 2 K contract, so rise in market was used by FII’s to exit long and enter short in  Index futures. FII’s Long to Short Ratio decreased to 2.9 suggesting decisive move round the corner. Are You Trading for Comfort?
  • As discussed in last analysis  Nifty closed below 9610 but again failed to close below 9595 so we are in no trade zone, as we did not close below 9595 and closed above 9610, we are near gann angles, so big move expected in next 2 trading sessions. Bullish above 9610 for a move towards 9660/9720/9770. Bearish below 9595 for a move towards 9520/9480. Low made today was 9560 bears broke 9595 and finally closed below it and can push towards 9520/9480. Bullish above 9610 for a move towards 9660/9720/9770. As seen in below chart, nifty has done 2 time whipsaw at gann angle and shown a impulsive move on upside. Will it be repeated again ? 17 June is important trend change date as per geometric time cycle as it being holiday we should see effect either tomorrow or Monday.   Will Bank Nifty Bulls be 4 time lucky at Gann 1×1 Angle?

  • Nifty June Future Open Interest Volume is at 2.15 core with liquidation of 1.6 Lakh with increase in  cost of carry suggesting short position were added today, NF Rollover cost @9435 Closed above it.
  • Total Future & Option trading volume at 8 Lakh core with total contract traded at .80 lakh , PCR @0.87
  • 9700  CE  is having Highest OI  at 69.3 lakh, resistance at 9700 followed by 9800 .9300-9800 CE added 22.7 Lakh in OI so bears added position back in 9600-9800 CE . FII sold 3.3 K CE longs and 9.1 K CE were shorted by them.Retail sold 21.7 K CE contracts and 42 K  shorted  CE were covered by them.
  • 9500 PE OI@72.7 lakhs having the highest OI strong support at 9500 followed by 9400. 9300-9800 PE liquidated 12.8 Lakh in OI so bulls covered position in 9300-9400 PE . FII bought 9.5 K PE and 1.1 K shorted PE were covered  by them. Retail sold 83.4 K PE contracts and 49.4 K shorted PE were covered by them.
  • FII’s sold 645 cores in Equity and DII’s bought 854  cores in cash segment.INR closed at 64.53

Buy above 9590 Tgt 9613,9632 and 9647 (Nifty Spot Levels)

Sell below 9549 Tgt 9525,9498 and 9460(Nifty Spot Levels)

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2 thoughts on “Will Nifty Bears be Whipsawed again?

  1. Jay

    Hi Bramesh,
    Its quite interesting to see how the dates you mention match with trend changes so far. Can you please explain / point me to any link which shows how to calculate these dates looking at the geometric time cycle?

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