Nifty forms Bearish ABCD pattern,EOD Analysis


  • FII’s bought 5.2 K contract of Index Future worth 385 cores ,4.8 K Long contract were added by FII’s and 0.4 K short contracts were liquidated by FII’s. Net Open Interest increased  by 4.3 K contract, so fall in market was used by FII’s to enter long and exit  shorts  in  Index futures. With self-confidence & Perseverance, Never Give Up
  •  As discussed last Analysis   Now for next 2 days range of 8910-8928 is very crucial zone unable to close above it nifty can see another round of down move towards 8760/8700. There are 2 cycle working currently for nifty one from 8968 which was price and time square and another one was from 8750 , both are price and time square, market has to break anyone of the level for trending move, else we will keep rotating in this range. Bulls need a close above 8928 for a move till 8968/9056/9120, Bear below 8700. Bulls again failed to close above 8910-8928 range, when 2 cycle are at work such choppy moves are bound to happen, its like both bulls and bears are trying hard but none of them are succeeding, Also we are forming a bearish ABCD pattern which showed its effect last friday , we can correct till 8809/8758/8700 in short term. Bullish only on close above 8928.   Bank Nifty corrects from Gann Resistance line,EOD Analysis



  • Nifty Sep Future Open Interest Volume is at 3.13 core with liquidation of 8.8 Lakh with decrease in cost of carry suggesting long  position were closed today, NF Rollover cost @8686, closed above it rallied 250 points.
  • 9000  CE  is having Highest OI  at 66.4 lakh, resistance at 9000 .8500/9000 CE  added 0.84 lakh so bears ran for cover in 8800 CE  .FII bought 2.9  K CE longs and 4.8 K CE were shorted by them .Retail bought 33.2 K CE contracts and 7.6 K shorted CE were covered by them.
  • 8500 PE OI@61.4 lakhs having the highest OI strong support at 8500. 8300-8800 PE liquidated 13.7 Lakh in OI so bulls strong base of 8700-8750 zone is still protected .FII sold 8 K  PE longs  and 0.2 K PE  were shorted by them .Retail bought 5.2 K PE contracts and 18.2 K PE were shorted by them.
  • FII’s sold 300 cores in Equity and DII’s bought 496 cores in cash segment.INR closed at 66.65

Buy above 8850 Tgt 8872,8910 and 8935 (Nifty Spot Levels)

Sell below 8800 Tgt 8780,8750 and 8720 (Nifty Spot Levels)

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