Nifty rallies 120 points as per Gann 26 Week Theory

By | March 6, 2019

  • FII’s bought 179 contract of Index Future worth 143 cores 3.6 K Long contract were added by FII’s and 3.4 K  Short contracts were added  by FII’s. Net Open Interest increased  by 7.1 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 1.05. Understanding Tickeritis in Trading

  • As Discussed in Last Analysis  Nifty has been trading in range bound from last 26 week as per gann after 26 week we tend to see big move so high (10939)and low (10730) of last week are very important. .Bulls will rally above 19890 for a move back to 10939/10985/11035. Gann 26 Week theory combined with High of Surgical strike day worked perfectly and we saw almost 400 points rally above 27189. Now Bulls need to move above 11000 for a move towards 11050/11111/11177/11230. Bears will get active below 10930 for a move back to 10885/10821.

  • Nifty March Future Open Interest Volume is at 1.44 core with addition of 1.86 Lakh with  increase in  cost of carry suggesting long position were closed today, NF Rollover cost @10868 closed above it,rallied 200 points
  • 11200 CE  is having Highest OI  at 14.5 Lakh, resistance at 11200 followed by 11000 .10400-11000 CE added 2.7 lakh in OI so bears  added position in range of 1110-11200. FII bought 18.8 K CE and 3.5 K CE were shorted by them. Retail bought 26.5 K CE and 47.6 K CE were shorted by them.
  • 10700 PE OI@ 22.4 Lakhs having the highest OI strong support at 10700 followed by 10600 . 10500-11000 PE added 3.3 Lakh in OI so bulls added position in range 10700-10600 PE.FII bought 2.4 K PE and 9.4 K PE were shorted by them. Retail bought 241 K PE and 147 K PE were shorted  by them.
  • Total Future & Option trading volume at 8.41  Lakh core with total contract traded at 1.30 lakh , PCR @0.84

Buy above 11000 Tgt 11030,11051 and 11077 (Nifty Spot Levels)

Sell below 10950 Tgt 10931,10900 and 10877 (Nifty Spot Levels)

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