Nifty forms Doji whipsawing both bulls and bears,EOD Analysis

By | September 1, 2018 12:21 pm

  • FII’s sold 12.8 K contract of Index Future worth 1109 cores ,1.9 K Long contract were added by FII’s and 14.7 Short contracts were added by FII’s. Net Open Interest increased  by 16.8 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 1.5.Honored to be part Online Trading Summit
  • As Discussed in Last Analysis  Nifty gave whipsaw as it went below 11664 but failed to do target and closed marginally above 11664. As per time cycle we should see  a good move, Short can be take below 11652 for a move towards 11610/11545/11470. Long above 11700 for a move back to 11755/11840. Nifty whipsawed on both short and long side again frustrating traders, but we need to accept it and wait for the big move as per time cycles. The more whipsaw better the move will be seen. Short can be take below 11617 for a move towards 11545/11470. Long above 11723 for a move back to 11791/11840.  Important intraday time for reversal can be at 11:48/2:41. Bank Nifty Bears continue to make merry below 28151,EOD Analysis

 

  • Nifty Sep Future Open Interest Volume is at 2.52 core with addition of 15 Lakh with increase in  cost of carry suggesting long position were added today, NF Rollover cost @11747 and Rollover %@ 67
  • 11800 CE  is having Highest OI  at 27.4 Lakh, resistance at 11750 followed by 11800 .11500-11800 CE added 18.7 lakh in OI so bears  added position in range of 11750-11800 CE. FII bought 15.9 K CE and 18.4 K shorted  CE were covered  by them. Retail bought 82 K CE and 59 K  CE were shorted  by them.

 

  • 11600 PE OI@32 lakhs having the highest OI strong support at 11650 followed by 11600 . 11500-12000 PE added 19.2Lakh in OI so bulls added position in range 111500-11600 PE. FII bought 30.2 K PE and 10 K  PE were shorted by them. Retail bought 69 K PE and 67 K PE were shorted by them.
  • Total Future & Option trading volume at1 5.5 Lakh core with total contract traded at 1.2 lakh , PCR @1.02

 

 

Buy above 11710 Tgt 11725,11750 and 11767 (Nifty Spot Levels)

Sell below 11666 Tgt 11640,11610 and 11585(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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