Nifty heading towards a new swing low,EOD Analysis

By | December 9, 2015 11:00 pm


  • FII’s sold 1.5 K contract of Index Future worth 122 cores ,4.2 K Long contract were added by FII’s and 5.8 K  short contracts were added by FII’s. Net Open Interest increased  by 10 K contract, so today’s fall  in market was used by FII’s to enter long and  enter shorts in  Index futures. Are You a Trader or a Gambler?
  • As discussed in last analysis  Probability of Nifty hitting 7539 is increasing till nifty trade below 7767 zone . Nifty continued with its fall,corrected 376 points in 7 trading sessions, and now heading towards break of last swing low of 7539, How far can nifty fall, Nifty is forming an ABCD pattern which gets completed near 7237 level,as shown below harmonic pattern just one scenario to keep in mind, Bullish only above 7767.Will Bank Nifty hold 16587,EOD Analysis

Supply Demand

Nifty Harmonic

  • Nifty December Future Open Interest Volume is at 1.95  core with addition of 2.9 Lakh with increase in CoC suggesting short position were added today. Nifty closing below rollover cost 7896.
  • Total Future & Option trading volume was   at 2.03 Lakh core with total contract traded at 1.6 lakh , PCR @0.76.
  • 8000  CE  OI at 71.9 lakh , wall of resistance @ 8000 .7600/8000 CE  added 38.8 lakh in OI as bears added position at higher level most of addition was seen in 8000/7800 CE.FII bought 1.1 K CE longs and 33 K CE were shorted by them .Retail bought 50.8 K CE contracts and 8.7 K  CE were shorted  by them.
  • 7500 PE OI@ 64.4 lakhs  strong base @ 7500. 7600/8000 PE  liquidated 1.8 lakh so bulls started feeling the pain  as nifty continued with its fall .FII bought 42.7 K PE longs and 6.3 K PE were by shorted them .Retail bought 4.5 K PE contracts and 23.3 K  PE were shorted  by them.Retailers buying CE everyday and market keeps falling.
  • FII’s sold 527 cores in Equity and DII’s bought 864 cores in cash segment.INR closed at 66.84.

Buy above 7641 Tgt 7674,7700 and 7736 (Nifty Spot Levels)

Sell below 7600 Tgt 7580,7545 and 7500 (Nifty Spot Levels)

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