Nifty Analysis on the Gujarat Election Results

By | December 16, 2017

  • FII’s sold 8.9 K contract of Index Future worth 661 cores ,11 K Long contract were covered by FII’s and 2.1 K Short contracts were covered by FII’s. Net Open Interest decreased  by 13.2 K contract, so fall in market was used by FII’s to exit long and exit short in  Index futures. FII’s Long to Short Ratio at 1.14. Just Do It

 

  • As discussed in last analysis  Nifty made low of 10142 and close above above 10250 showing a good recovery on time cycle turn date.as today was trend change date so today’s high and low are very important suggesting we are heading higher towards 10326/10410 till 10250 is held. Bearish below 10140 for a move towards 10090/10000/9930.  Today low was exactly at gann angle support,If today low is held we did price time squaring today and should be heading towards 10410/10490. As seen in below chart after we did price time squaring price just moved from 1 gann angle heading towards the another gann angle at 10460-10490,This is how gann analysis helps in getting an edge using both price and time. Yesterday we closed just above 10250 and today bulls were rewarded big time.  Bulls need a close above 10410 on Closing basis for the next big move towards 10470/10525/10600.Bearish below 10270 for a move towards 10200/10090.   Bank Nifty Analysis on the Gujarat Election Results

 

  • Nifty Dec Future Open Interest Volume is at 1.97 core with liquidation of 11.9 Lakh with decrease in  cost of carry suggesting Long position were closed today, NF Rollover cost @10396 closed below it.
  • Total Future & Option trading volume at 4.54 Lakh core with total contract traded at 1.37 lakh , PCR @1.10
  • 10500 CE  is having Highest OI  at 73.5 Lakh, resistance at 10400 followed by 10500 .10100-10600 CE liquidated 7.2 Lakh in OI so bears added major position  in range of 10400-10500 . FII bought 3.1 K CE and 14 K CE were shorted by them. Retail bought 55.2 K CE and 27.7 K shorted CE were covered by them.
  • 10000 PE OI@91.9 lakhs having the highest OI strong support at 10100 followed by 10000. 10000-10600 PE added 23.7 Lakh in OI so bulls added position in 10200-10300 PE. FII bought 22.8 K PE and 8.1 K PE were shorted by them. Retail bought 52.4 K PE and 34.1 K PE were shorted by them.
  • FII’s sold 921 cores  and DII’s bought 635 cores in cash segment.INR closed at 64.04

Buy above 10380 Tgt 10410,10450 and 10490 (Nifty Spot Levels)

Sell below 10310 Tgt 10270,10240 and 10210 (Nifty Spot Levels)

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