Nifty Bulls does Weekly close above 8250,EOD Analysis

  • FII’s bought 3.3 K contract of Index Future worth 240 cores ,6.7 K Long contract were added by FII’s and 3.4 K short contracts were added by FII’s. Net Open Interest increased  by 10.2 K contract, so rise in market was used by FII’s to enter long and enter  shorts  in  Index futures. The little woman who inspired the cable TV Moghul to give away fortune
  • As discussed in last analysis  Tomorrow will be very crucial as mostly we should see a trending move, Bulls above 8130 again will move towards 8200/8250, Bears below 8100 will see move towards 8056/8011. Nifty opened above 8130 made low of 8150 and did both target of 8200/8250 High made was 8256 :). Thats the beauty of gann price and time analysis it gives you an extra edge, As I have been discussing Bulls need a close above 8250, as we have weekly closing tomorrow close above 8250 will be big booster for Bulls.Close above 8250 target 8330/8370/8444. Unable to close above it another move towards 8200/8153. Bulls finally were able to close above 8250 and sustaining above it nifty should move towards 8330/8370/8444. Any close below 8250 bears will get upper hand and push nifty towards 8181/8150/8097. Expect good trending move in next 2 trading days.  Bank Nifty continue to trade in 18200-18700 range,EOD Analysis

  • Nifty Dec Future Open Interest Volume is at 1.71 core with addition of 2.8 Lakh with increase in cost of carry suggesting long  position were added today, NF Rollover cost @8049 closed above it.
  • Total Future & Option trading volume at 2.11 Lakh core with total contract traded at 0.91 lakh , PCR @1.05.
  • 8300  CE  is having Highest OI  at 46.6 lakh, resistance at 8300 followed by 8500 .7900/8500 CE  added 0.76  lakh so bears not adding aggressively as Nifty closed above 8250 .FII bought 7.8 K CE longs and 2.4 K shorted CE were covered by them .Retail bought 10.1 K CE contracts and 19.3 K CE were shorted by them.
  • 8000 PE OI@78.3 lakhs having the highest OI strong support at 8000. 7900-8500 PE added 16.3 Lakh in OI so bulls  added very aggressively in 8100/8000 PE. FII bought 3.7 K  PE longs  and 14.2 K PE were shorted by them .Retail bought 40.1 K PE contracts and 17.8 K PE were shorted by them.
  • FII’s bought 200 cores in Equity and DII’s bought 289 cores in cash segment.INR closed at 67.41

Buy above 8280 Tgt 8310,8340 and 8370 (Nifty Spot Levels)

Sell below 8240 Tgt 8210,8180 and 8151 (Nifty Spot Levels)

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