Nifty bounced from gann support,EOD Analysis

  • FII’s bought 3.7 K contract of Index Future worth 235 cores ,4.4 K Long contract were added by FII’s and 0.7 K short contracts were added by FII’s. Net Open Interest increased  by 5.1 K contract, so rise in market was used by FII’s to enter long and enter shorts  in  Index futures. How To get rid of  Bad Trading Habits
  • As discussed in last analysis  Low made was 8154. Now again we are near a crucial juncture as seen in below chart, Break of 8150 can see move towards 8097/8055 near the upper and lower boundary of green arc, closing above 8185 again a move towards 8250/8330. Low made today was 8154 near the horizontal line as seen in below gann chart as soon as 8185 crossed nifty bounced back and made high of 8226 and mostly 8250 will be done tomorrow. Now again closed above 8250 will be bullish and extended target comes at 8330/8370. Fed Policy outcome will come tomorrow night so traders carrying overnight position do hedge yourself.   Bank Nifty range trading continues,EOD Analysis

  • Nifty Dec Future Open Interest Volume is at 1.69 core with addition of 4.5 Lakh with decrease in cost of carry suggesting short  position were added today, NF Rollover cost @8049 closed above it.
  • Total Future & Option trading volume at 2.07 Lakh core with total contract traded at 0.96 lakh , PCR @0.91.
  • 8300  CE  is having Highest OI  at 51.5 lakh, resistance at 8300 followed by 8500 .7900/8500 CE  liquidated 2.9  lakh so bears ran for cover in 8200/8300 CE .FII sold 1.5 K CE longs and 1.4 K CE were shorted by them .Retail bought 4.3 K CE contracts and 5.7 K CE were shorted by them.
  • 8000 PE OI@78.6 lakhs having the highest OI strong support at 8000. 7900-8500 PE added 8.7 Lakh in OI so bulls  added again in 8200/8300 PE. FII bought 1.8 K  PE longs  and 0.9 K PE were shorted by them .Retail bought 29.5 K PE contracts and 17.2 K PE were shorted by them.
  • FII’s sold 2181 cores in Equity and bought 179 cores in cash segment.INR closed at 67.54

Buy above 8250 Tgt 8275,8300 and 8321 (Nifty Spot Levels)

Sell below 8200 Tgt 8180,8150 and 8131 (Nifty Spot Levels)

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