Nifty corrects after touching gann angle,EOD Analysis

  • As discussed in last analysis   We made time cycle low on Friday on gann angle and rallied today this is how time analysis give an extra edge. Till we are holding 9930 we can rally till 10057-10090 where we have gann angle resistance. Bearish below 9930 for a move towards 9860/9810. High made today was 10114 so nifty did another target of 10097, also today’s high was near gann angle suggesting we might see pause in current uptrend, but safe shorts will be below 10000 for a move towards 9930/9860/9810. Fresh long above 10090 for a move towards 10250-10410 for August Series. Bank Nifty does 25000 Holding 24480

  • Nifty August Future Open Interest Volume is at 1.64 core with addition of 49.6 Lakh with increase in  cost of carry suggesting long position were added today, NF Rollover cost @10036  Closed below it, and rollover % @ 65.4.
  • Total Future & Option trading volume at 14.5 Lakh core with total contract traded at 2.1 lakh , PCR @1.18

 

  • FII’s bought 1869  cores in Equity and DII’s sold 660  cores in cash segment.INR closed at 64.10

Buy above 10025 Tgt 10057,10095 and 10120(Nifty Spot Levels)

Sell below 9980 Tgt 9955,9930 and 9900 (Nifty Spot Levels)

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