Nifty holds Gunner Gann Line, How to trade next move ?

By | June 4, 2015 8:49 pm

FII

  • Nifty again held on the gann line as per gunner chart with recovery coming in last hour. I have shared the demand and supply Weekly chart as we have weekly closing tomorrow Bulls need to close above 8200/8225 range which is also 50 WSMA.  Bulls have defended the from past 4 weeks will they be able to do for 5 time ?

Supply Demand

Nifty Gunner

 

 

  • Nifty June Future Open Interest Volume is at 1.62 core with addition of 2.3 Lakh, with increase in CoC suggesting shorts have been closed .
  • Total Future & Option trading volume was   at 1.91 core with total contract traded at 4.7 lakh. PCR @0.86.
  • 8500  CE  OI at 48.6  lakh , wall of resistance @ 8500 .8100/8400 CE added 35 lakh  ,so  aggressive addition by bears and holding 56 lakh in open position. FII sold 1K  CE longs and 4 K shorted   CE  were covered  by them.Retail traders bought 0.60 lakh CE contracts.
  • 8000 PE OI@ 45.3 lakhs so strong base @ 8000.  8100/8500 PE liquidated 11 lakh so bulls  finally got the heat  , Holding 22 lakh open position. FII bought 83.8 K PE longs and 9.8 K PE were shorted  by them.
  • FII’s bought 511 cores   in Equity and DII’s bought 772 cores in cash segment.INR closed at 64.

 

Buy above 8156 Tgt 8174,8200 and 8220 (Nifty Spot Levels)

Sell below 8110 Tgt 8074,8050 and 7997(Nifty Spot Levels)

 

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Category: Daily

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

10 thoughts on “Nifty holds Gunner Gann Line, How to trade next move ?

    1. raja

      i think some wrong calculation in call and put (fii analysis)..kindly once chek again ..

      (FII bought 36.4 K CE longs and 17.6 K CE were shorted by them.Retail traders bought 1.2 lakh CE contracts.FII bought 90 K PE longs and 8 K shorted PE were covered by them.)

      Reply
  1. expallesco

    it seems nifty might make inverted head and shoulders pattern. 4th June fall and recovery was the formation of head section of the pattern. It might stay near 8150 for couple of days and then move up.

    Reply
    1. expallesco

      Couple of positive points, Perhaps
      1. It did not test yesterdays low, although its the lowest closing since May7
      2. Technically Nifty looking extremely oversold, so think a bounce back should be on cards.
      Please share your views.
      Thanks,

      Reply

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