Nifty closes near supply zone, EOD Analysis

By | March 5, 2016 11:50 am


  • FII’s bought 2 K contract of Index Future worth 147 cores ,9.3 K Long contract were added by FII’s and 7.3 K short contracts were added by FII’s. Net Open Interest increased  by 16.7 K contract, so  rally in market was used by FII’s to enter long and  enter shorts in  Index futures. A story that can change your life
  • As discussed in last analysis   we need a close above 7512 for move towards 7556/7601. Support in range of 7360/7380 range. Do remember overbought market can remain overbought for prolonged period of time, Just market is overbought does not mean go and short it.  Nifty opened gap up made high of 7506 near supply zone of 7512, Most of supply zone are getting crossed by gaps so do not be surprised if we get another gap up on Tuesday as Monday being trading holiday.  Bank Nifty struggling in gann arc,EOD Analysis

Nifty stalling near supply zone

  • Nifty March Future Open Interest Volume is at 2.22 core with addition of  8.9 Lakh with increase in cost of carry suggesting long position were added today, NF closed above Rollover cost @7147. Nifty rallied 300 points above Rollover cost
  • 7500  CE  OI at 58.4  lakh , wall of resistance @ 7500 .7000/7500 CE  liquidated 0.28 lakh so bears ran for cover in 7100/7200 CE .FII bought  0.08  K CE longs and 13.1 K CE were shorted  by them .Retail bought 20.3 K CE contracts and 19.8 K CE were shorted  by them.
  • 7000 PE OI@70.9 lakhs having the highest OI strong support at 7000 . 7000/7400 PE  added 14 lakh so bulls trying to form a based around 7100/7200.FII bought 11.9 K PE longs  and 4.2 K PE shorted were by them .Retail bought 23.2 K PE contracts and 15.8 K  PE were shorted  by them. Retailers buying PE and getting whipped everyday.
  • FII’s bought 671 cores in Equity and DII’s sold 533 cores in cash segment.INR closed at 67.07

Buy above 7520 Tgt 7540,7570 and 7600 (Nifty Spot Levels)

Sell below 7470 Tgt 7452 ,7420 and 7390 (Nifty Spot Levels)

6 thoughts on “Nifty closes near supply zone, EOD Analysis

  1. Pujan Vora

    7512-7514 is supply zone as mentioned in earlier post. If nifty move beyod that what will be the trade ?

    1. Krish

      Buy above 7520 Tgt 7540,7570 and 7600 (Nifty Spot Levels)
      Sell below 7470 Tgt 7452 ,7420 and 7390 (Nifty Spot Levels)

  2. Melwyn Mendonca

    Hi Bramesh, how are you? Just wanted to know what software you use to draw demand-supply zones. I know Sharekhan has it. But this doesn’t look Sharekhan chart. So just curious.

    1. Bramesh Post author

      Sir I am doing good. How are u doing..

      I use Ninjatrader program for the smae.


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