Nifty corrects from Channel Resistance,EOD Analysis


  • FII’s sold 2.2 K contract of Index Future worth 160 cores ,17.3 K Long contract were liquidated by FII’s and 15.1 K short contracts were liquidated by FII’s. Net Open Interest decreased  by 32.4 K contract, so fall in Nifty market was used by FII’s to exit long and  exit shorts in  Index futures.Traders Success Model
  • As discussed in Last Analysis   Nifty formed Inside day candle near channel top suggesting coming 2 trading days are very crucial as we can see fast move in market. Gann Time Analysis helped again coupled with channel resistance and Inside day  as we saw Big trending move today, which also did the SHARK pattern target, Till we are closing above 7600 Nifty can bounce back to 7800, below 7550 we can see correction till 7360-7380.   .Bank Nifty corrects from Channel Resistance,EOD Analysis

NIfty Shark

  • Nifty March Future Open Interest Volume is at 1.84 core with liquidation of  29.8 Lakh with increase in cost of carry suggesting short position were closed today, NF closed above Rollover cost @7147. Nifty rallied 650 points above Rollover cost
  • 7800  CE   is having Highest OI  at 65.5  lakh, resistance at 7800 .7400/7800 CE  added 24 lakh so bears added aggressively in 7600/7700 CE Nifty closed below 7634 .FII sold 8.7 K CE longs and 1.3 K shorted  CE were covered by them .Retail bought 75.6 K CE contracts and 4.4 K shorted  CE were covered by them.
  • 7400 PE OI@46.5 lakhs having the highest OI strong support at 7400 base becoming strong. 7400-7800 PE liquidated 30 Lakh in OI .FII sold 0.06 K PE longs  and 2.5 K shorted  PE were covered by them .Retail sold 53.6 K PE contracts and 21.8 K shorted  PE were covered  by them.
  • FII’s bought 2042 cores in Equity and DII’s sold 2495 cores in cash segment.INR closed at 66.57

Buy above 7651 Tgt 7684,7711 and 7750 (Nifty Spot Levels)

Sell below 7580 Tgt 7560,7530 and 7500 (Nifty Spot Levels)

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4 thoughts on “Nifty corrects from Channel Resistance,EOD Analysis”

  1. Dear sir,
    I read your articles from 2009 to till now. All are excellent, especially related to trading strategy…

    Every reader should read those all…

    Thanks a lot….

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