Nifty reacts from Gann Angle,EOD Analysis

  •  As discussed in last analysis  Bulls need to move above 9610 for a move back to 9666/9721/9800.Bears need a close below 9490 for a move back to 9430/9370/9300.All Bullish target done and we have important astro date on Monday.We will open with gap down on Monday as we react from gann angle as seen in below chart Bulls need to hold 9355-9310 zone for rally back to 9460/9600. Bears will get active below 9250 for a move back to 9200/9100/9000.

  • Total Future & Option trading volume at 26.71  Lakh core with total contract traded at 1.9 lakh , PCR @0.91
  • Nifty May Future Open Interest Volume is at 0.91 Lakh core with addition of 29 Lakh with decrease in cost of carry suggesting short position were added today, NF Rollover cost @9508 closed above it.
  • 10100 CE is having Highest OI at 4 Lakh, resistance at 10000 followed by 10100.9900-10100 CE added 2 Lakh in OI so bears added position in range of 9600-9700.
  • 9400 PE OI@5 Lakhs having the highest OI strong support at 9400 followed by 9300. 9300-9600 PE added 15 Lakh in OI so bulls added position in range 9400 -9350.
  • FII’s Bought 1968 cores and DII’s Bought 579 cores in cash segment.INR closed at 75.28

Buy Above 9555 Tgt 9610,9666 and 9710 (Nifty Spot Levels)

Sell Below 9515 Tgt 9490,9460 and 9430 (opens in a ne (Nifty Spot Levels)

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