Will Nifty break Gann Angle for range expansion ?

  • FII’s bought 4.7 K contract of Index Future worth 293 cores ,7.3 K Long contract were added by FII’s and 2.5 K  Short contracts were added by FII’s. Net Open Interest increased  by 9.9 K contract, so rise in market was used by FII’s to enter long and enter short in  Index futures. FII’s Long to Short Ratio at 2.5. Overcoming Emotions As A Day Trader
  • As discussed in last analysis  September series will start with time cycle date on 01 Sep, so big move should be seen in next 2 trading sessions. Also price is stuck in 2 gann angles, suggesting explosive move round the corner. Long in September series should be taken above 9950 for a move towards 10090/10150/10280. Bearish below 9850 for a move towards 9770/9685/9610. Low made was 9909 so bulls protected 9850 as soon as 9950 is broken bulls are having upperhand and made high till 9983, Range of 10026-10030 is very important range close above it we can quickly rally till 10090/10157/10235. Bearish below 9900 for a move towards 9820/9770/9710.  Bank Nifty hangs around gann angle,EOD Analysis

  • Nifty September Future Open Interest Volume is at 1.69  core with addition of 10.4 Lakh with increase in  cost of carry suggesting long position were closed today, NF Rollover cost @9910 Closed above it.
  • Total Future & Option trading volume at 3.26 Lakh core with total contract traded at 0.88 lakh , PCR @0.90
  • 10000 CE  is having Highest OI  at 35 lakh, resistance at 10000 followed by 10200 .9500-10500 CE added 14.7 Lakh in OI so bears added major position  in range of 10200-10500 CE. FII bought 12.6 K CE longs and 7.2 K CE were shorted by them.Retail bought 24.5 K CE contracts and 5.7 K  CE were shorted by them.
  • 9700 PE OI@40.2 lakhs having the highest OI strong support at 9700 followed by 9800. 9500-10500 PE added  46 Lakh in OI so bulls added position in 9500-9800 PE. FII bought 24.5 K  PE and 5.7 K  PE were shorted by them. Retail bought 95 K PE and 84.7 K shorted PE were covered  by them
  • FII’s sold 832 cores  and DII’s bought 731 cores in cash segment.INR closed at 64.03

Buy above 9980  Tgt 10000,10030 and 10075 (Nifty Spot Levels)

Sell below 9950 Tgt 9928,9885 and 9854 (Nifty Spot Levels)

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