Nifty Oct Series Analysis

By | September 28, 2017
  • As discussed in last analysis  What a day its a perfect day for trader who follow gann rules, We told to keep an eye on high and low of trend change date and as soon low was broken which was 9813 and our price level was 9810 free fall started and stopped exactly near our target of 9726 low made was 9714, Break of 9685 we can see the fall continue towards 9631/9540/9449.  Bullish only above 9820 for a move towards 9900/9995. As seen in below chart we have we have today closed at 1×1 line of falling angle,  If we close below 9700 on Weekly basis we can see fall9382 in short term. Low made was 9687 and Nifty formed double bottom and also protected 9685 and saw a bounce back, Bulls should now close above 9770 for a move towards 9859/9930, above which only next rally towards new high can be seen, Bearish below 9685 for move towards 9610/9550. As we have Weekly/Monthly/Quarterly closing tommrow bulls will be happy to close above 9810. Bears below 9685.  Bank Nifty Oct Series Analysis

  • Nifty October Future Open Interest Volume is at 1.96 core with addition of 82 Lakh with decrease in  cost of carry suggesting short position were added today, NF Rollover cost @9857 and Rollvover % 67.
  • Total Future & Option trading volume at 15 Lakh core with total contract traded at 1.99 lakh , PCR @0.82

 

  • FII’s sold 5238  cores  and DII’s bought 5196  cores in cash segment.INR closed at 65.51

Buy above 9770  Tgt 9795,9820 and 9850 (Nifty Spot Levels)

Sell below 9740 Tgt 9710,9690 and 9666 (Nifty Spot Levels)

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