Nifty continue to trade below 8372,EOD Analysis


  • FII’s sold 3.8 K contract of Index Future worth 221 cores ,456  Long contract were added by FII’s and 4.2  K short contracts were added by FII’s. Net Open Interest increased  by 4.7 K contract, so fall in market was used by FII’s to enter long and enter shorts  in  Index futures. How Long Does It Take To Learn How To Trade?
  •  As discussed in Yesterday Analysis   Bulls need a close above 8336 and 8372 which is a very important gann number, Unable to close above 8372 we can see a fall towards 8210. High made today was 8353 but again closed below 8372 and 8336 suggesting the importance of 8372 and 8336. The range of 8336-8372 is very important both from gann perceptive and supply and demand concept. This range nifty spent of lot time both while going up and coming down so lot of churning needs to happen before next move.  Breakout only on close of 8372 for target of 8488/8548/8700.  Bears will get active only on close below 8100. Bank Nifty close above 17955 but below 18100,EOD Analysis

nifty gann line resistance

  • Nifty July Future Open Interest Volume is at 1.82 core with liquidation of 4 Lakh with decrease in cost of carry suggesting long position were closed today, NF  Rollover is at 73% and Rollover cost @8204 closed above it
  • 8500  CE  is having Highest OI  at 44 lakh, resistance at 8400 .8400/8700 CE  added 3.7 lakh so bears forming resistance at higher levels 8400-8500 zone  .FII bought 6.9 K CE longs and 9.9 K CE were shorted by them .Retail bought 33.4 K CE contracts and 16.9 K shorted CE were covered by them.
  • 8200 PE OI@49 lakhs having the highest OI strong support at 8200. 8000-8300 PE added 4.6 Lakh in OI so bulls making strong base near 8100-8200 zone .FII bought 10.4 K PE longs  and 829  PE were  shorted by them .Retail bought 17.4 K PE contracts and 22.2  K PE were shorted by them.
  • FII’s bought 330 cores in Equity and DII’s sold 512 cores in cash segment.INR closed at 67.36

Buy above 8387 Tgt 8420,8450 and 8480 (Nifty Spot Levels)

Sell below 8320 Tgt 8300,8260 and 8225 (Nifty Spot Levels)

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5 thoughts on “Nifty continue to trade below 8372,EOD Analysis”

  1. Brahmesh, you have mentioned that 16.9 K shorted CE were covered by Retail, my data shows that 16.9K CE were sold by Retail. Please clarify. Thanks for your in-depth analysis, as always it is a pleasure to get your views through your blogs.

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