Nifty Forms DOJI at Gann Angle

By | January 24, 2019

  • FII’s sold 4.1 K contract of Index Future worth 510 cores 1.5 K Long contract were liquidated by FII’s and 2.5 K Short contracts were added by FII’s. Net Open Interest increased  by 956 contract, so rise in Nifty was used by FII’s to exit long and enter short in  Index futures.FII’s Long to Short Ratio at 0.83.Trading Mindset of Successful Traders
  • As Discussed in Last Analysis  Nifty did a range breakdown below 10843 and now we are waiting for a target of 10777/10730. Bulls will become active above 10900 for a move back to 10951/10987. High made today was 10866 so bulls were unable to break 10900 but also failed to do target of 10777 and formed DOJI near gann angle as shown in below chart as 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 Important intraday time for reversal can be at 11/2:47. Bank Nifty Forms DOJI at Gann Angle

  • Nifty Jan Future Open Interest Volume is at 2.43  core with addition of 0.18 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 43.8  Lakh, resistance at 10900 followed by 11000 .10400-11000 CE added 6.3 lakh in OI so bears  added position in range of 10900-11000. FII sold 6.8 K CE and 166 CE were shorted by them. Retail sold 205 K CE and 152 K shorted CE were covered 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 sold 13.7  K PE and 1.6 K shorted PE were covered  by them. Retail sold 82 K PE and 83.4 K shorted PE were covered  by them.
  • Total Future & Option trading volume at 16.41  Lakh core with total contract traded at 1.02 lakh , PCR @0.76

Buy above 10865 Tgt 10890,10913 and 10949 (Nifty Spot Levels)

Sell below 10835 Tgt 10810,10790 and 10765 (Nifty Spot Levels)

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