Nifty continue to rally holding 11664,EOD Analysis

By | August 28, 2018 11:08 pm

  • FII’s bought 2 K contract of Index Future worth 284 cores ,4.8 K Long contract were covered by FII’s and 6 Short contracts were covered by FII’s. Net Open Interest decreased  by 11.8 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 1.10.Honored to be part Online Trading Summit
  • As Discussed in Last Analysis  Nifty opened with a gap up and as soon as 11620 broken rallied towards our 1 target of 11664 and mostly will do 11730 tommrow so again time cycle helped in capturing the big move. Now bulls need to hold 11664-650 range for the upmove to continue towards 11730/11808/11880. Bearish below 11620 for a move back to 11570/11500. 11760 done and close at 11738, Bulls need to hold 11664 for upmove to continue towards 11808/11880. Bearish below 11620 for a move back to 11570/11500.Tomorrow is important trend change date as per time cycle Important intraday time for reversal can be at 12:28. Bank Nifty EOD Analysis for 29 August

 

  • Nifty Aug Future Open Interest Volume is at 2.37 core with liquidation of 50 Lakh with decrease in  cost of carry suggesting short position were closed  today, NF Rollover cost @11149 closed above it.
  • 11800 CE  is having Highest OI  at 26.5 Lakh, resistance at 11750 followed by 11800 .11000-12000 CE liquidated 13 lakh in OI so bears  covered position in range of 11500-11600 CE. FII sold 9.8K CE and 9.5 K shorted  CE were covered  by them. Retail bought 20 K CE and 2.5 K  CE were shorted  by them.

 

  • 11500 PE OI@34.7lakhs having the highest OI strong support at 11600 followed by 11500 . 11000-12000 PE added 5.6 Lakh in OI so bulls added position in range 111500-11600 PE. FII bought 4.3 K PE and 9.6 K  PE were shorted by them. Retail bought 36 K PE and 15 K PE were shorted by them.
  • Total Future & Option trading volume at1 9.83 Lakh core with total contract traded at 1.18 lakh , PCR @1.13

 

 

Buy above 11740 Tgt 11768,11795 and 11820 (Nifty Spot Levels)

Sell below 11710 Tgt 11685,11665 and 11650 (Nifty Spot Levels)

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Category: Nifty Technical Analysis

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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