Nifty bulls hold on to gann angle,EOD Analysis

By | July 19, 2017

  • FII’s bought 4.8 K contract of Index Future worth 325 cores ,1.9 K Long contract were added by FII’s and 2.8 K Short contracts were liquidated by FII’s. Net Open Interest decreased  by 869 contract, so fall in market was used by FII’s to enter  long and exit short in  Index futures. FII’s Long to Short Ratio at 2.Important Points for Trading Success

 

  • As discussed in last analysis  Bearish below 9610 only. As per time cycle till 9787 is held bulls can push nifty towards the scarocant figure of 10000 by 30 July. Till 9820 is held bulls are in control, bulls are in control and can push nifty towards 9936/9961/10000. Bearish below 9792 for a move towards 9700/9610. How precisely gann level work today was the perfect example, We told below 9792 market will see change in trend low made today was 9792.05 and we saw a bounce back and close above 9820 which was gann angle support as shown in below chart, Now bulls needs to hold on to range of 9792-9787 which is time cycle low for a bounce back towards 9880/9930/9969/10000. Bearish below 9787 for a move towards 9710/9650. Bank Nifty Bulls continue to close above 24000

  • Nifty July Future Open Interest Volume is at 1.89 core with liquidation of 19.1 Lakh with increase in  cost of carry suggesting short position were covered today, NF Rollover cost @9559 Closed above it, and rallied 400 points.
  • Total Future & Option trading volume at 5.75  Lakh core with total contract traded at 1.46 lakh , PCR @1.18
  • 10000  CE  is having Highest OI  at 67.1 lakh, resistance at 10000 followed by 9900 .9600-10000 CE added 48 Lakh in OI so bears added huge position in 9800-9900 CE.If 9787 not broken tomorrow weak bulls will run for cover. FII bought 1.6 K CE longs and 1.2 K CE were shorted by them.Retail bought 101 K CE contracts and 46.7 K CE were shorted  by them.
  • 9800 PE OI@58.6  lakhs having the highest OI strong support at 9800 followed by 9700. 9500-10000 PE liquidated 47.4 Lakh in OI so bulls covered huge position in 9700-9800 PE . FII bought 36.4 K PE and 28.5 K PE were shorted by them. Retail sold 49.1 K PE and 3.6 K shorted PE were covered by them
  • FII’s bought 317 cores in Equity and DII’s sold 975 cores in cash segment.INR closed at 64.32

Buy above 9835 Tgt 9855,9880 and 9928 (Nifty Spot Levels)

Sell below 9810 Tgt 9785,9750 and 9730 (Nifty Spot Levels)

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