Nifty Corrects after time cycle turn date,EOD Analysis

  • FII’s sold 6 K contract of Index Future worth 385 cores ,2.5 K Long contract were added by FII’s and 8.5 K  Short contracts were added by FII’s. Net Open Interest increased  by 11.1 K contract, so fall in market was used by FII’s to enter long and enter short in  Index futures. FII’s Long to Short Ratio at 1.09,For the August Series FII have net added shorts 131 K Contract till we do not close above 9910 all rallies will get sold into.  Amazing Story of Lata Bhagwan Khare
  • As discussed in last analysis    Nifty bulls lost the battle in last 1 hour as they were unable to protect 9910 on the time cycle date of 17 Aug suggesting 9947 can act as short term top. Bears will get further momentum below 9855 for  fast move towards 9770/9680/9620. Bullish above 9950 for a move towards 9962/10025/10090. Thursday we closed at 9906 below 9910 and 17 Aug being a time cycle date, effect was seen trigger being Infosys, market just find a way to go with trend of time cycle, till 9950 not broken no longs in nifty. Low made was 9783 near our target of 9770 and close below 9855. Till we are below 9855 we can move down till 9770/9730/9685/9620 Bank Nifty hang around gann angle,EOD Analysis

  • Nifty August Future Open Interest Volume is at 2.50 core with addition of 0.53  Lakh with increase in  cost of carry suggesting long position were added today, NF Rollover cost @10036  Closed below it.
  • Total Future & Option trading volume at 4.5 Lakh core with total contract traded at 1.3 lakh , PCR @0.94
  • 10000  CE  is having Highest OI  at 53.6  lakh, resistance at 9900 followed by 10000 .9800-10500 CE added 1.6 Lakh in OI so bears added partial position  in range of 9800-10000 CE. FII bought 1 K CE longs and 5.1 K  CE were shorted by them.Retail bought 55.7 K CE contracts and 27.6 K CE were shorted by them.
  • 9800 PE OI@64.1 lakhs having the highest OI strong support at 9800 followed by 9750. 9500-10000 PE added 22 Lakh in OI so bulls added position in 9500-9800 PE. FII sold 6.8 K PE and 5.2 K PE were shorted by them. Retail sold 13.9 K PE and 21.9 K PE were shorted by them
  • FII’s sold 2182 cores  and DII’s bought 584 cores in cash segment.INR closed at 64.14

Buy above 9831  Tgt 9850,9875 and 9900 (Nifty Spot Levels)

Sell below 9811 Tgt 9792,9775 and 9750 (Nifty Spot Levels)

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6 thoughts on “Nifty Corrects after time cycle turn date,EOD Analysis”

  1. Great. The numbers just played as per your calculations. I have been following your newsletters. Really impressed so far. It is to the point without much conditions.

  2. Hi Brameshji,
    Do you see any chances of formation of bearish butterfly pattern formation [observation on 1 month chart], taking nifty to 10100 or 10200.
    Thanks.

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