Nifty rally holding Gann Angle

By | April 28, 2019

  • FII’s bought 2.8 K contract of Index Future worth 303 cores 10.4 K Long contract were added by FII’s and 7.5 K Short contracts were added by FII’s. Net Open Interest increased  by 18 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 2.88.  Build Good Trading Habits
  • As Discussed in Last Analysis Now Bulls will get active above 11678 for a move back to 11732/11786/11840. Bears will get 11610 for a move back to 11570/11512. Low made was 11661 so bulls protected 11610  and bulls once above 11678 did all our 1 target on upside. Beauty of gann analysis keep you ahead of the curve, Now Nifty bulls should hold 11740  for this up move to continue towards 11800/11856. Bears need to move below 11721 for a move back to 11666/11610. 29 April is important astro date so effect will be seen on 30. 11740 should be held else we will again see a correction below 11650Bank Nifty rally holding Gann Angle

  • Nifty May Future Open Interest Volume is at 1.95 core with addition  of 3.1 Lakh with  increase in  cost of carry suggesting Long position were added today, NF Rollover cost @11742,closed above it.
  • Total Future & Option trading volume at 7.32 Lakh core with total contract traded at 1.05 lakh , PCR @0.84
  • 12000 CE  is having Highest OI  at 12.6 Lakh, resistance at 11850  followed by 12000 .11000-11800 CE added 3.7 Lakh in OI so bears added position in range of 11850-12000. FII bought 14.9 K CE and 1.4 K shorted CE were covered by them. Retail bought 4.2 K CE and 7.1 K CE were shorted by them.
  • 11500 PE OI@16.5 Lakhs having the highest OI strong support at 11500 followed by 11600 . 11000-11600 PE added 4.3 Lakh in OI so bulls added position in range 11500-11600 .FII bought 20.3 K PE and 13.8 K PE were shorted by them. Retail bought 17.1 K PE and 13.8 K  PE were shorted by them.

Buy above 11766 Tgt 11780,11806 and 11834  (Nifty Spot Levels)

Sell below 11721 Tgt 11700,11666 and 11640  (Nifty Spot Levels)

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