Nifty does 1 SHARK Pattern target,EOD Analysis

By | December 16, 2015 1:57 am


  • FII’s sold 8.2 K contract of Index Future worth 437 cores ,6.9 K Long contract were liquidated by FII’s and 1.2 K  short contracts were added by FII’s. Net Open Interest decreased  by 5.6 K  contract, so today’s rise in market was used by FII’s to exit long and  enter shorts in  Index futures. Problems Created by Trading Loss
  • As discussed yesterday  Nifty forming  Bullish SHARK pattern its PRZ is near  7550, so price action near 7539/7550 needs to be watched to check the validity of this pattern, Nifty made low of 7551 and rallied almost 150 point from the low, and achived 1 conservative target of SHARK pattern are mentioned in below post, As shown in 2 chart closing above yesterday high of 7705 can see Nifty moving towards 7767/7800 range,  Bullish on close above 7767. Bank Nifty heading towards gann line,EOD Analysis

Nifty Harmonic

Nifty Gunner

  • Nifty December Future Open Interest Volume is at 2.02 core with addition of 1.7 Lakh with decrease in CoC suggesting short  position were added today. Nifty closing below rollover cost 7896.
  • Total Future & Option trading volume was   at 1.52 Lakh core with total contract traded at 1.2  lakh , PCR @0.81.VIX will fall tomorrow after the FED Event is over so OTM Option Buyers be cautious premium can fall like 9 pins as happened in past occasion.
  • 8000  CE  OI at 62.2 lakh , wall of resistance @ 8000 .7600/8000 CE  liquidated 3.3 lakh in OI as bears booked profit  in 7800/8000 CE.FII sold 8 K CE longs and 7.1 K CE were shorted by them .Retail bought 6.1 K CE contracts and 3.2 K CE were shorted  by them.
  • 7500 PE OI@ 80 lakhs  strong base @ 7500. 7600/8000 PE  added 7.8 lakh so bulls added on 7600/7700.FII bought 1.3 K PE longs and 7.6 K PE were by shorted them .Retail bought 30 K PE contracts and 10.6 K  PE were shorted  by them.
  • FII’s bought 48 cores in Equity and DII’s bought 273 cores in cash segment.INR closed at 66.92.

Buy above 7755 Tgt 7770,7790 and 7805 (Nifty Spot Levels)

Sell below 7650 Tgt 7630,7602 and 7585 (Nifty Spot Levels)

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