Will Nifty Bulls able to Protect gann angle Support,EOD Analysis

  • FII’s sold 13.5  K contract of Index Future worth 705 cores ,4.3 K Long contract were covered by FII’s and 9.2 K  Short contracts were added by FII’s. Net Open Interest increased  by 4.9 K contract, so fall in Nifty was used by FII’s to enter long and exit short in  Index futures.FII’s Long to Short Ratio at 0.65. How Emotions Hijack trading
  • As Discussed in Last Analysis  Bearish trade got activated and now waiting for a target of 10610/10555.Bullish above 10712 for a move back to 10730/10800/10850. Low made was 10562 near our target of 10555 so we were able to capture a 120 points move and now we are near gann angle support as show in below chart , Above 10621 bulls will have upper hand towards 10669/10712/10750. Bearish below 10555 for a move back to 10512/10470/10410.Important intraday time for reversal can be at 9:16/1:57.   Bank Nifty Rallies from Gann Angle,EOD Analysis

 

 

  • Nifty Nov Future Open Interest Volume is at 2.34 core with liquidation of 6.2 Lakh with increase in  cost of carry suggesting long position were added today, NF Rollover cost @10243 closed above it and rallied 400 points

 

  • 10800 CE  is having Highest OI  at 33.2 Lakh, resistance at 10700 followed by 10800 .10200-10900 CE added 15 lakh in OI so bears  added position in range of 10600-10800. FII sold 1 K CE and 10 K shorted CE were  covered by them. Retail bought 24.9  K CE and 8.6 K CE were shorted  by them.

 

  • 10500 PE OI@31.1  Lakhs having the highest OI strong support at 10500 followed by 10400 . 10000-10700 PE liquidated 15.8 Lakh in OI so bulls covered position in range 10400-10500 PE. FII bought 18.2  K PE and 11.2 K shorted  PE were covered by them. Retail bought 28.6 K PE and 51.7 K PE were shorted  by them.
  • Total Future & Option trading volume at1 9.32 Lakh core with total contract traded at 1.57 lakh , PCR @0.97

 

 

Buy above 10620 Tgt 10640,10661 and 10690 (Nifty Spot Levels)

Sell below 10580 Tgt 10555,10525 and 10500 (Nifty Spot Levels)

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