Nifty does Breakout above Gann Angle

By | January 16, 2019

  • FII’s bought 13.1 K contract of Index Future worth 1153 cores 19.7 K Long contract were added by FII’s and 4.7 K Short contracts were added by FII’s. Net Open Interest increased  by 24.4 K contract, so rise in Nifty was used by FII’s to enter long and enter short in  Index futures.FII’s Long to Short Ratio at 0.94 . How To NOT Blow Up Your Trading Account
  • As Discussed in Last Analysis  Bullish above 10777 for a move back to 10816/10870/10923. Bearish below 10721 for a move back to 10685/10630. Low made today was 10777 , Bulls did 2 target on upside now bulls need to close above 10890 above gann angle to become bullish for the move towards 10923/10985/11040. Bears will become active below 10821 for a move back to 10777/10721. Important intraday time for reversal can be at 11:09/12:42/2:08.  Tomorrow’s Movement Prediction Forecast Nifty Bank

  • Nifty Jan Future Open Interest Volume is at 2.55 core with addition of  7.3  Lakh with  increase in  cost of carry suggesting long position were added today, NF Rollover cost @10788 closed above it.
  • 11000 CE  is having Highest OI  at 40.5 Lakh, resistance at 10900 followed by 11000 .10400-11000 CE liquidated 22.5 lakh in OI so bears  covered position in range of 10800-11000. FII bought 5.5 K CE and 1 K CE were shorted by them. Retail sold 74.6 K CE and 8.8 K shorted CE were covered by them
  • 10500 PE OI@ 40.9 Lakhs having the highest OI strong support at 10700 followed by 10600 . 10500-11000 PE added 34 Lakh in OI so bulls added position in range 10700-10800 PE. FII bought 3.1 K PE and 3.7 K PE were shorted by them. Retail bought 137 K PE and 73.3 K PE were shorted by them.
  • Total Future & Option trading volume at 6.13 Lakh core with total contract traded at 1.46 lakh , PCR @0.89

Buy above 10900 Tgt 10929,10950 and 10973 (Nifty Spot Levels)

Sell below 10850 Tgt 10821,10810 and 10777 (Nifty Spot Levels)

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