Nifty rallies 300 point as per Gann Time Cycle

  • FII’s bought 18.8  K contract of Index Future worth 1975 cores 30 K Long contract were added by FII’s and 11.3 K  Short contracts were added by FII’s. Net Open Interest increased  by 41.5 K contract, so rise in Nifty was used by FII’s to enter long and enter short in  Index futures.FII’s Long to Short Ratio at 1.21. Emotions and Intraday Trading
  • As Discussed in Last Analysis We did not know that election Dates will be announced on Sunday but time cycle kept us above the fold and we were able to capture the  move till 11177 now waiting for 11230-11236 where major supply zone lies above which can see move towards 11300/11376. 111300 done today and we have seen effect of   time cycle we have rallied almost 300 points in 2 trading sessions, Now Bulls need to hold 11230-11240  which is a major support zone for a move back to 11376/11400. Bears will get active below 11210 for a move back to 11150/11060.

  • Nifty March Future Open Interest Volume is at 1.69 core with addition of 14.3 Lakh with  decrease in  cost of carry suggesting long position were added today, NF Rollover cost @10868 closed above it,rallied 350 points
  • 11400 CE  is having Highest OI  at 22.5 Lakh, resistance at 11400 followed by 11500 .10800-11500 CE liquidated 8.7 Lakh in OI so bears  covered position in range of 11300-11400. FII bought 24.5  K CE and 906 CE were shorted by them. Retail sold 21.2 K CE and 25.8 K CE were shorted by them.
  • 11000 PE OI@ 39.3 Lakhs having the highest OI strong support at 11000 followed by 10900 . 10500-11000 PE added 5.2 Lakh in OI so bulls added position in range 11000-11100 PE.FII bought 11.9 K PE and 45.7 K PE were shorted by them. Retail bought 128 K PE and 59.9 K PE were shorted  by them.
  • Total Future & Option trading volume at 10.17  Lakh core with total contract traded at 1.38 lakh , PCR @0.85

Buy above 11321 Tgt 11351,11377 and 11400 (Nifty Spot Levels)

Sell below 11280 Tgt 11255,11230 and 11205 (Nifty Spot Levels)

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