Nifty heading towards new 52 week high,EOD Analysis


  • FII’s bought 7.7 K contract of Index Future worth 480cores ,10.9 K Long contract were added by FII’s and 3.2 K short contracts were liquidated by FII’s. Net Open Interest increased  by 3.9 K contract, so rise in market was used by FII’s to enter long and enter shorts  in  Index futures. THE SHARK BAIT STORY
  •  As discussed in Yesterday Analysis  Again technical worked and gap up above 8577 got sold into , but with today’s fall after event and recovery suggest strong buying at lower levels, also as seen in below ABCD pattern todays low was made near 78.6% retracement suggesting range of 8518-8500 range is important now, Holding the same we can see move till 8752 levels in coming week. Close below 8515 invalidate the pattern,  Also as per gann analysis close above 8577 will be bullish. Best is to go long above 8607 which is falling gann line as shown below add more if it close above 8677 for eventual target of 8752, Adding to winning position is called pyramiding which most of professional traders do. Nifty traded as per our plan and heading towards the target of ABCD pattern, As i always say Plan your trade and trade your plan and protect your trading capital and profits.   Bank Nifty forms Bullish Cypher pattern,EOD Analysis


Nifty resistance zone gann


  • Nifty Aug Future Open Interest Volume is at 2.39 core with addition of 2.4 Lakh with decrease in cost of carry suggesting short  position were added today, NF Rollover cost @8650, closed above it and gained 70 points.
  • 8800  CE  is having Highest OI  at 58.3 lakh, resistance at 8800 .8500/9000 CE  liquidated 20.9 lakh so resistance formation in 8800-8900 .FII bought 15.7 K CE longs and 9.8 K shorted CE were covered by them .Retail sold 56.7 K CE contracts and 580 CE were shorted by them.
  • 8500 PE OI@46 lakhs having the highest OI strong support at 8500. 8300-8800 PE added 5.9 Lakh in OI so bulls making strong base near 8500-8550 zone .FII bought 7.6 K PE longs  and 3.2 K PE were shorted by them .Retail bought 63 K PE contracts and 31.2 K shorted PE were  covered by them.
  • FII’s bought 435 cores in Equity and DII’s bought 616 cores in cash segment.INR closed at 66.78

Buy above 8720 Tgt 8752,8775 and 8800 (Nifty Spot Levels)

Sell below 8650 Tgt 8620,8590 and 8560 (Nifty Spot Levels)

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9 thoughts on “Nifty heading towards new 52 week high,EOD Analysis”

  1. Have you seen a Lion Hunting..

    He identify a prey wait patiently till he get the right opportunity to attack and probability of making a Kill is higher..

    Compare the same with your trading.. You are not clear about your plan is someone forcing you to take a trade ?

    Be lIke a LION

  2. Hello sir ..
    Very often we face this situation where we find ourselves confused ..
    What to do if
    1.. Nifty opens at 8740 but by the time you act it
    a..Goes up to 8755
    b..Comes down to 8720 ..( You agree nifty moves very fast in first 15 mins )
    c.. After 15 mins you see nifty 8725
    2… Nifty opens at 8760 and within 15 min cmes down to 8710 ( something same happened on thursday last week after GST passed in rajya sabha
    During first 15 min Nifty moves so fast that if we buy or sale at certain level the time we go for hedging it moves already 10-15 points
    These situations leave me in state of confusion and I end up loosing heavily
    Will be waiting your reply

  3. SGX nifty is suggesting 44 points up, since on Monday opening Nifty may open above 8720. Dear Mr. Bramesh as per your study sure shot Nifty will touch 8752 first target before 10 or 11am. I am following your calls past from 3months. Calls will be excellent.

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