Nifty Analysis as it Hits Gann Angle Resistance

  • FII bought 10.1 K caontract of Index Future worth 739 cores, Net OI has decreased by 1.4 K contract, 4.3 K Long contract were added by FII and 5.7 K Shorts were covered by FII. Net FII Long Short ratio at 2.5 So FII used rise to enter longs and exit shorts.
  • As Discussed in Last Analysis Bulls need to move above 11850 for a move back to 11910/11960. Bears will get active below 11780 for a move back to 11729/11666/11610.All Bullish target done and we have seen a perfect view from 1 gann angle to another gann angle as seen in below chart, Now we are entering a crucial price and time zone so time to be cautious. Bulls now need to move  11970 for a move back to 12023/12028/12311. Bears once below 11855 can see 11805/11750/11696.

  • Total Future & Option trading volume at 15.3 Lakh core with total contract traded at 1.43 lakh , PCR @0.82
  • Nifty Oct Future Open Interest Volume is at 1.14 Cores with addition of 3.7 Lakh with decrease in cost of carry suggesting long position were added today, NF Rollover cost @11170 above it.
  • 12000 CE is having Highest OI at 12 Lakh, resistance at 12000 followed by 12100.11900-12200 CE added 8 Lakh in OI so bears added in range of 11900-12000.FII bought 30  K CE and 26.4 K shorted CE were covered by them. Retailers bought 122 K CE and 117 K  CE were shorted by them.
  • 11700 PE OI@8 Lakhs having the highest OI strong support at 11700 followed by 11600. 11500-11900 PE added 22  Lakh in OI so bulls addded position in range 11700-11600.FII bought 29.4 K PE and 30 K PE were shorted by them. Retailers bought 282 K PE and 237 K PE were shorted by them.
  • FII’s sold 39 cores and DII’s bought 126 cores in cash segment.INR closed at 73.25

Buy Above 11940 Tgt 11966,11999 and 12025 (Nifty Spot Levels)

Sell Below 11900 Tgt 11886,11850 and 11833 (Nifty Spot Levels)

2 thoughts on “Nifty Analysis as it Hits Gann Angle Resistance”

  1. tracking SGX Nifty, Indian Nifty we may open above 12000 ,which is a level above all the three levels (11966,11999 ,12025 ) you are mentioned ..what one needs to in such cases .Please enlighten

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