Nifty near gann angle support zone, EOD Analysis

  • FII’s bought 11.2 K contract of Index Future worth 776 cores , 673 Long contract were added by FII’s and 1 K Short contracts were added by FII’s. Net Open Interest increased  by 1.7 K contract, so fall in market was used by FII’s to enter long and enter short in  Index futures. Trade Outside Your Comfort Zone
  • As discussed in last analysis   Nifty has taken support near gann arc and also near the gann angles and closed near 9130 levels,suggesting if 9100 level is held we can see upmove towards 9200/9250. Bearish below 9100 for a move towards 9040/9000. As per time analysis next 2 days we can see trending day. Low made today was 9087 and we recovered and close above 9100 and near gann angle. Break of 9087 we can see down move till 9034. 9034-9030 is important support zone, Bearish below 9000 only. Bullish above 9150 for a move towards 9212/9268.  Bank Nifty continue to hold 21000, EOD Analysis

  • Nifty March Future Open Interest Volume is at 2.58 core with added of 2.9 Lakh with decrease in cost of carry suggesting short position were added today, NF Rollover cost @8925 closed above it before election results and rewarded big time.
  • Total Future & Option trading volume at 3.90  Lakh core with total contract traded at 1 lakh , PCR @0.86
  • 9200  CE  is having Highest OI  at 63.5 lakh, resistance at 9200 followed by 9300 .8800-9500 CE added 8.6 Lakh in OI so bears building wall of resistance at 9200-9220 zone.FII sold 470 CE longs and 1.7 K CE were shorted  by them .Retail bought 38.5 K CE contracts and 870  CE were shorted  by them.
  • 8800 PE OI@55.5 lakhs having the highest OI strong support at 8900 followed by 8800. 8800-9500 PE liquidated  10.7 Lakh in OI so bulls covered in 8800/8900 PE. FII sold 3.3 K PE and 2.1 K PE were shorted by them  .Retail sold 11.5 K PE contracts and 7.8 K PE were shorted by them.
  • FII’s bought 1663 cores in Equity and DII’s sold 798 cores in cash segment.INR closed at 65.29

Buy above 9122 Tgt 9148,9180 and 9210 (Nifty Spot Levels)

Sell below 9085 Tgt 9060,9030 and 9000 (Nifty Spot Levels)

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