Nifty bounce from gann angle

By | April 9, 2019

  • FII’s sold 5.7 K contract of Index Future worth 211 cores 3 K Long contract were added by FII’s and 8.7 K Short contracts were added by FII’s. Net Open Interest increased  by 11.8 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 1.96. Trading Psychology: Cutting Winning Trades Short
  • As Discussed in Last Analysis As today was important time cycle date high and low are important and break of high 11710 can see move towards 11760/11829. Break of Low 11549 can see move towards 11494/11441. Intraday level mentioned worked perfectly. Break of  11710 can see move towards 11760/11810/11888. Break of Low 11549 can see move towards 11494/11441. Another Big move can be seen in next 2 days.. Bank Nifty bounce from Vedic Number 29791

  • Nifty April Future Open Interest Volume is at 1.58 core with addition of 1.76 Lakh with  increase in  cost of carry suggesting long position were added today, NF Rollover cost @11537.
  • Total Future & Option trading volume at 9.74 Lakh core with total contract traded at 1  lakh , PCR @0.85
  • 11800 CE  is having Highest OI  at 18.1 Lakh, resistance at 11800  followed by 11900 .11000-11800 CE liquidated 2.5 Lakh in OI so bears covered position in range of 11600-11800. FII bought 15.1 K CE and 938 CE were shorted by them. Retail sold 65.2 K CE and 22.2 K shorted CE were covered by them
  • 11500 PE OI@24.1 Lakhs having the highest OI strong support at 11500 followed by 11400 . 11000-11600 PE added 5.8 Lakh in OI so bulls added position in range 11300-11400 PE.FII bought 3.9 K PE and 14 K PE were shorted by them. Retail bought 3.9 K PE and 14 K PE were shorted by them

Buy above 11685  Tgt 11710,11740 and 11765 (Nifty Spot Levels)

Sell below 11640 Tgt 11621,11600 and 11570 (Nifty Spot Levels)

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One thought on “Nifty bounce from gann angle

  1. MITESH SHAH

    Many thanks for drawing my attention to

    QUOTE – Another Big move can be seen in next 2 days – UNQUOTE.

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