Nifty Bounce from Gann Angle,EOD Analysis

  • FII sold 12.4  K contract of Index Future worth 406 cores, Net OI has increased by 30 K contract, 4.6 K Long contract were added by FII and 1.7 K  short were covered by FII. Net FII Long Short ratio at 0.26, So FII used fall to enter longs and exit shorts.
  • As discussed in last analysis  Bears below 11600 can see fall extending towards 11525/11450. Bulls have there change only above 11720 for a move back to 11760/11825. Low made was 11614 so bears were unable to break 11600,Bulls above 11720 got whipsawed . Now Bulls need to break 11760 for a move back to 11820/11881. Bears will get active below 11666 for a move back to 11610/11555.

  • Total Future & Option trading volume at 13.2 Lakh core with total contract traded at 1.83 lakh , PCR @0.82
  • Nifty Feb Future Open Interest Volume is at 1.39 Lakh core with liquidation of 0.81 Lakh with decrease in cost of carry suggesting short position were closed today, NF Rollover cost @12149 closed below it.
  • 12000 CE is having Highest OI at 41 Lakh, resistance at 11800 followed by 12000 .12200-12400 CE added 26 Lakh in OI so bears added position in range of 11800-12000.FII bought 18.7 K CE and 133 shorted CE were by them. Retailers sold  32.2 K CE and 2.1 K shorted CE were covered by them.
  • 11500 PE OI@20 Lakhs having the highest OI strong support at 11500 followed by 11400. 11700-12200 PE added 7 Lakh in OI so bulls added position in range 11400-11600.FII bought 19.2 K PE and 803 PE were shorted by them. Retailers bought 132 K PE and 107 K PE were shorted by them.
  • FII’s sold 1200 cores and DII’s bought 1286 cores in cash segment.INR closed at 71.49

Buy Above 11722 Tgt 11750,11785 and 11820 (Nifty Spot Levels)

Sell Below 11680 Tgt 11666,11635 and 11610 (Nifty Spot Levels)

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