Nifty corrects 261 points as per Gann Price Time

By | March 26, 2019

  • FII’s sold 623  contract of Index Future worth 152 cores 2.2 K Long contract were covered by FII’s and 2.9 K  Short contracts were covered by FII’s. Net Open Interest decreased  by 5.1 K contract, so fall in Nifty was used by FII’s to exit long and exit short in  Index futures.FII’s Long to Short Ratio at 1.95. Strong Emotions in Trading
  • As Discussed in Last Analysis  High made was 11572 near our target of 11585 but failed to achieve it, We turned from gann angle and  Astro date where mercury was in conjunction with Neptune suggesting we have done price time squaring and till we are below 11600 bears will have upper hand, as we have closed below 11470 now waiting for target of  11400/11333/11276/11230. We saw effect of price time squaring with nifty opening with gap down and in process did our 2 target on downside, Bears will have upperhand till we are below 11400 for a move towards 11276/11230. Bulls will get active above 11400 for a move towards 11450/11510. 26 March is also important time cycle.

  • Nifty March Future Open Interest Volume is at 1.54 core with liquidation  of 30 Lakh with  increase in  cost of carry suggesting short  position were added today, NF Rollover cost @10868 closed above it,rallied 620 points.
  • 11600 CE  is having Highest OI  at 35.4 Lakh, resistance at 11600 followed by 11700 .11000-11600 CE added 30 Lakh in OI so bears added position in range of 11500-11600. FII bought 27.2 K CE and 593  CE were shorted by them. Retail bought 60.2 K CE and 58.1 K  CE were shorted by them.
  • 11200 PE OI@ 27.7 Lakhs having the highest OI strong support at 11300 followed by 11200 . 11000-11600 PE liquidated 12 Lakh in OI so bulls covered position in range 11300-11400 PE.FII bought 33.8 K PE and 13.2 K PE were shorted by them. Retail bought 7.4 K PE and 18.5 K shorted  PE were covered by them.
  • Total Future & Option trading volume at 8.26 Lakh core with total contract traded at 1.41 lakh , PCR @0.84

Buy above 11376 Tgt 11390,11412 and 11437(Nifty Spot Levels)

Sell below 11310 Tgt 11290,11270 and 11250 (Nifty Spot Levels)

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