Nifty and Bank Nifty forms BAT Pattern, short term bottom in place ?


  • FII’s bought 52 K contract of Index Future worth 1023 cores ,94.3 K Long contract were added  by FII’s and 41.4 K  short contracts  were added  by FII’s. Net Open Interest increased  by 135  K contract, so today’s fall in market was used by FII’s to enter long and enter  shorts in index futures  .Want to be Profitable Trader,Develop the following Qualities


Nifty Harmonic

Nifty Gunner

  • Nifty August Future Open Interest Volume is at 1.34  core with liquidation of 27 Lakh and addition of 44 lakh in Sep future Rollover stand at 47 % and avg cost of rollover @ 8049.
  • Total Future & Option trading volume was   at 4.9 Lakh core with total contract traded at 9.6  lakh . PCR @0.93.
  • 8000  CE  OI at 36.4 lakh , wall of resistance @ 8000 .7800/8000 CE added 5.1 lakh in OI so bears added minor position today in 8000  CE.  FII bought 4.8 K CE longs and 74 K CE were shorted  by them.Retail sold 90 K CE contracts and 129 K shorted  CE were covered by them.
  • 7800 PE OI@ 30  lakhs  strong base @ 7800.  7900/8100 PE  liquidated 12  lakh so major liquidation was seen in 8000/7900 PE bulls are showing sign of revival . FII sold 15.7 K PE longs and 8.3 K PE were shorted by them.Retail bought 35.9 K PE contracts and 38 K shorted  PE contracts were covered  by them.Retailers buying PE and market going up.

Buy above 7900 Tgt 7925 ,7950 and 7980 (Nifty Spot Levels)

Sell below 7860 Tgt 7830,7800 and 7777 (Nifty Spot Levels)

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10 thoughts on “Nifty and Bank Nifty forms BAT Pattern, short term bottom in place ?”

  1. the first target is set to 61.8% of CD, followed by 1.272% of CD and finally the projection of XA from D, the entry point.

  2. There are positive divergences and this may indicate halt or slowing down of the down-slide. Sometimes due to strong momentum divergences occur more than once which tells us that movement is coming to an end. Bat Pattern may signify this view in the present context. A classic pattern like Bat Harmonic rarely fails.

  3. Todays index moves clearly point to top ten Index heavyweights being propped up by DII buying. % deliverable on Reliance and HDFC was higher than normal which means that markets were managed to close at a higher level than what it should have been. Tomorrow will be another test of index management and the day of expiry is going to be fun and games. I am getting my popcorn and coke ready tomorrow. the markets show absence of buy orders on the FII desks, a portfolio liquidation order from them could simply crash the market. Lack of normal buying means the market would succumb to falls bcoz DII and domestic mutual fund redemptions will take the market down. gloom and doom for at least a month before we stabilize…

  4. Dear Bramesh, please check the divergence in nifty and bank nifty. as per traditional indicator like MACD, AND RSI

  5. Hi Bramesh Sir,
    Please correct the FII’s future contracts data. It seems you have entered the yesterday’s figures of 129k long contracts addition and 144k short contracts addition.

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