Nifty continue to Hold Shark Pattern,EOD Analysis


  • FII’s sold 1.4 K contract of Index Future worth 104 cores ,1.8 K Long contract were added by FII’s and 3.3 K short contracts were added by FII’s. Net Open Interest decreased  by 1.4 K contract, so fall in market was used by FII’s to enter long and  enter  shorts in  Index futures.How making a trading plan improves your trading
  • Nifty Shark pattern again came to rescue for bulls  as market again made a new @7443 but still unable to close below 7503. Close below 7503 increases probability of Nifty going towards 7400/7118.Holding the same bounceback till 7610 and above that 7676. Bullish only on close above 7767.  Nifty moved Today 300 Points in 6 hours and might have formed a short term bottom which will get confirmed on weekly close above 7503. Bank Nifty forms Long Legged DOJI,EOD Analysis

Nifty Harmonic

  • Nifty January  Future Open Interest Volume is at 2.23 core with addition of 1.5 Lakh with decrease in cost of carry suggesting short position closed today . Nifty  rollover cost 7930 close below it saw sharp decline
  • Total Future & Option trading volume was   at 3.11 Lakh core with total contract traded at 2.5 lakh , PCR @0.88.
  • 8000  CE  OI at 61  lakh , wall of resistance @ 8000 .7700/8000 CE  liquidated 3.2 lakh in OI as bears liquidated position in  7800 and 8000 CE .FII sold 915 CE longs and 5 K CE were shorted by them .Retail bought 14.2 K CE contracts and 10 K shorted  CE were covered by them.
  • 7500 PE OI@59 lakhs  strong base @ 7500. 7500/8000 PE  added 2.1 lakh so bulls getting back on feet adding in  7500/7800 .FII bought 17 K PE longs and 1.5 K PE were shorted by them .Retail bought 24 K PE contracts and 29.4 K  PE were shorted  by them.
  • FII’s sold 1221 cores in Equity and DII’s bought 1526  cores in cash segment.INR closed at 67.20

Buy above 7565 Tgt 7590,7625 and 7675 (Nifty Spot Levels)

Sell below 7520 Tgt 7490,7460 and 7430 (Nifty Spot Levels)

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