Nifty Continue to Hold on to Gann Angle

By | January 26, 2019

  • FII’s bought 16 K contract of Index Future worth 1208 cores 10.1 K Long contract were added by FII’s and 5.8 K Short contracts were covered by FII’s. Net Open Interest increased  by 4.3 K contract, so fall in Nifty was used by FII’s to enter long and exit  short in  Index futures.FII’s Long to Short Ratio at 0.89.Trading Mindset of Successful Traders
  • As Discussed in Last Analysis  25 Is important time cycle date so expect good move in next 2 days  Bulls will become active above 10900 for a move back to 10951/10987. Bears will need to break 10821 for a move back to  10777/10730 Bulls got whipsawed but bears did the low of 10756 below 10821 and we also got big move as per expectation also  we are near gann angle support as shown below. Bulls will get active above 10836 for a move back to 10885/10931. Bears will get active below 10730 for a move back to 10666/10610. Important intraday time for reversal can be at 10:39/1:31. Bank Nifty Forms DOJI at Gann Angle

  • Nifty Jan Future Open Interest Volume is at 2.37  core with liquidation of 6 Lakh with  decrease in  cost of carry suggesting long position were closed today, NF Rollover cost @10788 closed above it.
  • 11000 CE  is having Highest OI  at 44.3  Lakh, resistance at 10900 followed by 11000 .10400-11000 CE added 19.5 lakh in OI so bears  added position in range of 10900-11000. FII bought 3.2 K CE and 4 K CE were shorted by them. Retail bought 84.7 K CE and 59.2 K CE were shorted by them.
  • 10700 PE OI@ 31.1 Lakhs having the highest OI strong support at 10700 followed by 10600 . 10500-11000 PE added 5.5 Lakh in OI so bulls added position in range 10700-10800 PE. FII bought 8 K PE and 2.3 K PE were shorted by them. Retail sold 3.4 K PE and 17.3 K PE were shorted by them.
  • Total Future & Option trading volume at 7.24 Lakh core with total contract traded at 1.61 lakh , PCR @0.99

Buy above 10800 Tgt 10822,10850  and 10885(Nifty Spot Levels)

Sell below 10774 Tgt 10750,10723 and 10700 (Nifty Spot Levels)

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