Nifty does range breakdown,EOD Analysis

  • FII’s bought 6 K contract of Index Future worth 436 cores ,2 K Long contract were liquidated by FII’s and 8.1 K Short contracts were liquidated by FII’s. Net Open Interest decreased  by 10.1 K contract, so fall in market was used by FII’s to exit long and exit shorts  in  Index futures. A Person who won’t stand for something will fall for anything..
  • As discussed in last analysis   High made today was 8445 so gann resistance zone continue to play its pivotal role as shown in below chart, low was 8404 so still the range trade continues buy low sell higher till the range does a breakout or breakdown. Bulls need close above 8460 for move towards 8500/8555. Bear below 8370 for move towards 8328/8280. Expect Impulsive move in next 1-2 trading days. Nifty did a range breakdown as discussed in last analysis, and closed below 8370 opening the gates towards 8300/8250 range. Bullish only on close above 8460 only.  Bank Nifty break 18967,EOD Analysis

  • Nifty Jan Future Open Interest Volume is at 1.79 core with liquidation of 22  Lakh with increase in cost of carry suggesting short  position were added today, NF Rollover cost @8031 closed above it.
  • Total Future & Option trading volume at 4.16 Lakh core with total contract traded at 1.42  lakh , PCR @1.06
  • 8400  CE  is having Highest OI  at 54 lakh, resistance at 8400 followed by 8500 .8000/8600 CE  added 14.2 Lakh so bears added position in 8400/8500 CE .FII sold 2.9 K CE longs and 10.7 K CE were shorted by them .Retail bought 76.4 K CE contracts and 8.3 K CE were shorted  by them.
  • 8000 PE OI@68 lakhs having the highest OI strong support at 8000 followed by 8200. 8000-8600 PE liquidated 26.6 Lakh in OI so bulls  ran for cover in 8400/8500 PE. FII bought 23.1 K PE longs  and 3.2 K shorted PE covered were by them .Retail sold 47.6 K PE contracts and 4.3 K PE were shorted by them.
  • FII’s sold 26 cores in Equity and DII sold 175 cores in cash segment.INR closed at 68.18

Buy above 8372  Tgt 8401,8430 and 8455 (Nifty Spot Levels)

Sell below 8340 Tgt 8318,8290 and 8270 (Nifty Spot Levels)

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6 thoughts on “Nifty does range breakdown,EOD Analysis”

  1. Dear Brameshji, IS there a way to predict the next days gap up/gap down opening and be able to trade it by taking an appropriate position the day before? Thanks.

  2. Sir, typing mistake in second paragraph(after the red letter ) ,sixth line–close below 8370 (not 8460).
    It was your perfect analysis yesterday because today nifty broke the range.Thanks for your guidance.

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