Nifty Bounce 300 Points from gann support zone, EOD Analysis

  • FII’s bought 11.9 K contract of Index Future worth 752 cores ,11.2 K Long contract were added by FII’s and 689 short contracts were liquidated by FII’s. Net Open Interest increased  by 10.5 K contract, so rise in market was used by FII’s to enter long and exit shorts  in  Index futures. Traders New Year’s Resolutions for 2017
  • As discussed in last analysis  Range of 7880-7900 is again the important zone, break of the range on downside move towards 7800/7700. Holding the same move towards 8130/8250. Low made was 7894 so Bulls protected our gann range of 7880-7900 and were rewarded handsomely as high made was 8197 a move of 304 points in matter of 4 trading session.Thats the beauty of gann keep you 1 step ahead and help you in capturing the big moves. Now for the coming year 8250-8270 should be watched closely by Bulls as its near the gann resistance zone as shown in below chart, above it  move towards 8370/8450/8598, Bearish below 8100 for a move towards 7997/7900. 04-05 Jan are high swing date accept big move in these period. For Turing Date for coming year please visit this link     Bank Nifty continue face resistance at 18250,EOD Analysis

  • Nifty Jan Future Open Interest Volume is at 1.71 core with addition of 9.6 Lakh with decrease in cost of carry suggesting short  position were added today, NF Rollover cost @8031 closed above it.
  • Total Future & Option trading volume at 2.07 Lakh core with total contract traded at 1.14 lakh , PCR @0.91.
  • 8200  CE  is having Highest OI  at 42.7 lakh, resistance at 8200 followed by 8400 .7900/8500 CE  added 24.3  lakh so bears added aggressively  8200/8300 CE .FII bought 30.6 K CE longs and 17.5 K CE were shorted by them .Retail bought  45 K CE contracts and 60.7 K CE were shorted by them.
  • 8000 PE OI@57.6 lakhs having the highest OI strong support at 8000. 7900-8500 PE added 49.5 Lakh in OI so bulls  added in 8200/8000 PE. FII bought 28.1 K PE longs  and 18.2 K PE were shorted by them .Retail bought 75.9 K PE contracts and 72 K PE were shorted by them.
  • FII’s sold 585 cores in Equity and DII  bought 725 cores in cash segment.INR closed at 67.91

Buy above 8170 Tgt 8200,8218 and 8240 (Nifty Spot Levels)

Sell below 8150 Tgt 8135,8110 and 8085 (Nifty Spot Levels)

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4 thoughts on “Nifty Bounce 300 Points from gann support zone, EOD Analysis”

  1. Thanks!!

    As a trader you need to develop/learn strategy than back test it over all the probable scenarios and see the overall results.

    Its like making a product before you go live you will do all the probable testing so as to test the rigorousness of the product.

    There is no shortcut to hard Work !!

    Rgds,
    Bramesh

  2. Dear Bramesh Ji,

    You have mentioned PCR (Put Call Ratio) as 0.91. Where as it is as follows:
    Puts 4,00,88,325
    Calls 3,41,74,725
    P/C 1.173040163

    Could you please check my workings are correct or am I committing any mistakes?

    Please excuse if I am wrong and please guide me with proper working method on PCR.

    Thanks in advance.

    Vijay LN.

  3. Dear Bramesh,

    I really like your technical analysis, which is unbiased about the future trends.

    Please suggest the best way to trade a particular strategy be it upside or downside movement i.e. Futures / options or combination of both to hedge the risk.

    Stop losses during the day are effective tool but how do you manage overnight risk when market gaps up / down by 100+ points

    Thanks a lot

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