Nifty does 8600 above 8432,EOD Analysis

  • As discussed in last analysis   Bulls are back with a bang with a close above 8432/8460 both and now holding 8432 heading towards 8555/8600. Bearish only on close below 8328. Gann Price and time Analysis helped traders to capture the move above 8432 till 8600 now bulls will head towards 8710 levles where there is resistance as shown in below chart, Bearish only on close below 8432 till 8432 is held we can move all the way towards 8969 over next 2 months.  Bank Nifty bounces 778 points above gann support,EOD Analysis

  • Nifty Feb Future Open Interest Volume is at 1.92 core with addition of 7.2 Lakh with increase in cost of carry suggesting long  position were added today, NF Rollover cost @8471 and rollover % at 58.5
  • FII’s bought 1378 cores in Equity and DII bought 383 cores in cash segment.INR closed at 68.07

Buy above 8688  Tgt 8702,8750 and 8786 (Nifty Spot Levels)

Sell below 8600 Tgt 8570,8550 and 8530 (Nifty Spot Levels)

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