Nifty moves from 1 gann angle to another,EOD Analysis

By | January 17, 2018

  • FII’s sold 6.4 K contract of Index Future worth 667 cores ,3.2 K Long contract were added by FII’s and 9.7 K Short contracts were added by FII’s. Net Open Interest increased  by 13 K contract, so rise in market was used by FII’s to enter long and enter short in  Index futures. FII’s Long to Short Ratio at 1.01, again a good bounce from lower end of range . Why Swing Trading Is Favorable For Beginner Traders?

 

  • As Discussed in Last Analysis   Nifty bulls failed to close above 10710 but again protected 10690 as low was 10687. Fresh longs should be taken above 10730 for a move towards 10800. Again to reiterate range of 10800-10814 is very very strong resistance zone, Bearish below 10690 for a move towards 10630-10570. Shorts got stopped out but longs were rewarded, Nifty did a perfect move from 1 gann angle to another as shown in below chart. Bulls were able to move above 10730 and did the target of 10800. Again to reiterate range of 10800-10814 is very very strong resistance zone,Break of that we can see fast move towards 10970/11000.   Bank Nifty bulls protect 25900, rally higher,EOD Analysis

 

  • Nifty Jan Future Open Interest Volume is at 3 core with addition of 7.5 Lakh with decrease in  cost of carry suggesting long position were added today, NF Rollover cost @10545 closed above it.

 

  • Total Future & Option trading volume at 9.10 Lakh core with total contract traded at 1.3 lakh , PCR @1.03

 

  • 10800 CE  is having Highest OI  at 45.6 Lakh, resistance at 10800 followed by 11000 .10500-11000 CE liquidated 18.9 Lakh in OI so bears covered major position  in range of 10600-10700 . FII bought 12.1 K CE and 3.4 K CE were shorted by them. Retail sold 45 K CE and 5.4 K shorted CE were covered by them.

 

  • 10500 PE OI@79.7 lakhs having the highest OI strong support at 10500 followed by 10400 . 10500-11000 PE 52.4 Lakh in OI so added covered position in 10500-10600 PE, still strong base at 10600. FII bought 6.5 K PE and 8.8 K PE were shorted by them. Retail bought 135 K PE and 62.3 K PE were shorted by them.

 

  • FII’s bought 625 cores  and DII’s bought 168 cores in cash segment.INR closed at 63.88

Buy above 10800 Tgt 10815,10838 and 10860 (Nifty Spot Levels)

Sell below 10770 Tgt 10752,10730 and 10700(Nifty Spot Levels)

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