Nifty Gave Perfect Bounce From Gann Angle

  • FII’s sold 8.3 K contract of Index Future worth 754 cores 18.8 K Long contract were added by FII’s and 27.1 K Short contracts were added by FII’s. Net Open Interest increased  by 45.9 K contract, so rise in Nifty was used by FII’s to exit long and exit  short in  Index futures.FII’s Long to Short Ratio at 0.87 . How Much Money Do You Really Need To Trade For A Living
  • As Discussed in Last Analysis  Now bears need to break 10570 for a move towards the support zone of 10525-10512. Bulls will get active only above 10730 for a move towards 10800/10888. Low made today was 10535 near our support range of 10525, took exact support at gann angle as shown in below chart, We gave levels on Twitter which worked perfectly. As we have expiry tomorrow Bulls need a close above 10750 for a move towards 10822/10877. Bearish below 10699 for a move towards 10666/10636/10578.Important intraday time for reversal can be at 10:16/2:32. Bank Nifty give perfect bounce from Gann Angle

  • Nifty Dec Future Open Interest Volume is at 1.12 core with liquidation of 38 Lakh with  decrease in  cost of carry suggesting short position were added today, NF Rollover cost @10727 closed above it.
  • 10900 CE  is having Highest OI  at 31 Lakh, resistance at 10850 followed by 10900 .10400-11000 CE liquidated 32.8 lakh in OI so bears  covered position in range of 10800-11000. FII sold 8.8 K CE and 1.1 K shorted CE were covered by them. Retail sold 107 K CE and 42.5 K  shorted CE were covered by them.
  • 10500 PE OI@ 36.7 Lakhs having the highest OI strong support at 10600 followed by 10500 . 10500-11000 PE added 14.2  Lakh in OI so bulls added position in range 10700-10800 PE. FII bought 3.4 K PE and 1.3 K shorted PE were covered  by them. Retail bought 131 K PE and 72.5 K PE were shorted by them.
  • Total Future & Option trading volume at 15.22  Lakh core with total contract traded at 2.68  lakh , PCR @0.85

Buy above 10730 Tgt 10745,10777 and 10800 (Nifty Spot Levels)

Sell below 10700 Tgt 10685,10666 and 10640  (Nifty Spot Levels)

Upper End of Expiry: 10819

Lower End of Expiry:10640

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