Will Nifty Bounce on Gann Time Cycle Date

By | July 22, 2019

  • FII’s sold 11.8 K contract of Index Future worth 1 K cores 15.9 K Long contract were liquidated by FII’s and 4.1 K Short contracts were liquidated by FII’s. Net Open Interest decreased  by 20 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 0.91
  • As Discussed in Last Analysis Now bulls need to hold 11340-11370 range for the correction to come to an halt and continue up move towards 11478/11530/11570. Bears will get active below 11318 for a move back to 11265/11212. Nifty took support at the gann level of 11301, till we are holding this level we can see a relief rally towards 11400/11461/11525/11600. Bears will get active below 11300 for a move towards 11239/11194/11142. Tomorrow is important gann and Astro date also.

  • Nifty July Future Open Interest Volume is at 1.26 core with liquidation of 24.3 Lakh with  decrease in  cost of carry suggesting short position were closed today, NF Rollover cost @11841 closed below it.
  • Total Future & Option trading volume at 10.63 Lakh core with total contract traded at 1.56 lakh , PCR @0.83
  • 11600 CE  is having Highest OI  at 32.5 Lakh, resistance at 11600 followed by 11700 .11500-12000 CE added 18 Lakh in OI so bears added position in range of 11600-11800.FII bought 10.4 K CE and 5.8 K CE were shorted by them. Retail bought 93 K CE and 66.5 K CE were shorted by them.
  • 11300 PE OI@38 Lakhs having the highest OI strong support at 11300 followed by 11400 . 11000-11700 PE added 6.4 Lakh in OI so bulls added position in range 11300-11400.FII bought 3.5 K PE and 1.7 K PE were shorted by them. Retail bought 62.1 K PE and 56.8 K PE were shorted by them.

Buy above 11355 Tgt 11376,11398 and 11441 (Nifty Spot Levels)

Sell below 11333 Tgt 11301,11270 and 11243 (Nifty Spot Levels)

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