Nifty Bulls continue to rally above gann angle,EOD Analysis

By | April 7, 2018

  • FII’s sold 2.5 K contract of Index Future worth 207 cores ,1.6 K Long contract were liquidated by FII’s and 897 Short contracts were added by FII’s. Net Open Interest decreased  by 712 contract, so rise in market was used by FII’s to exit long and exit short in  Index futures.  FII’s Long to Short Ratio at 0.22 .Trading Resolution for Financial Year 2018-19

 

  • As Discussed in Last Analysis Nifty open with gap up above 10155 and once 10220 gann angle was broken did all target on upside. Now bulls need to hold 10330 for the upmove to continue till 10368/10410/10466/10512. Bearish below 10250 for a move back towards 10150/10077. Today was have done price time squaring so till today low of 10227 is held bulls will move up towards 10512. High made today was 10350 so we almost did our target of 10368 now bulls need to hold 10227-250 range in any correction for this up move to remain intact and continue the march towards 10512. Bearish below 10220 for a move back to 10150/10077. Important intraday time for reversal can be at 10:05/1:17. Bank Nifty rally 450 points above 24476 in 2 days,EOD Analysis

 

  • Nifty April Future Open Interest Volume is at 2.19 core with addition of 5.9 Lakh with increase in  cost of carry suggesting long position were added today, NF Rollover cost @10156 closed above it.
  • Total Future & Option trading volume at4.65  Lakh core with total contract traded at 1.01 lakh , PCR @0.98
  • 10500 CE  is having Highest OI  at 37.3 Lakh, resistance at 10500 followed by 10600 .10000-10600 CE added 0.58 lakh in OI so bears added position  in range of 10500-10600. FII bought 1.6 K CE and 3.3 K shorted  CE were covered by them. Retail bought 22.4  K CE and 24.9 K CE were shorted  by them.

 

  • 10000 PE OI@49.2 lakhs having the highest OI strong support at 10100 followed by 10000 . 10000-10500 PE added 9.6 Lakh in OI so bulls added added position in 10200-10300 PE. FII bought 9.3 K PE and 14.6 K PE were shorted by them. Retail bought 60.5 K PE and 49.5 K PE were shorted  by them.

 

  • FII’s sold 524 cores  and DII’s bought 1305 cores in cash segment.INR closed at 64.97

 

Buy above 10320 Tgt 10350,10375 and 10410 (Nifty Spot Levels)

Sell below 10290 Tgt 10265,10240 and 10220 (Nifty Spot Levels)

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