Nifty near channel resistance,EOD Analysis

By | March 22, 2016 9:25 pm


  • FII’s bought 2.8 K contract of Index Future worth 200 cores ,4.9 K Long contract were added by FII’s and 2.1 K short contracts were added by FII’s. Net Open Interest increased  by 7 K contract, so rise in Nifty market was used by FII’s to enter long and  enter shorts in  Index futures.Are You Emotional Trader ?
  • As discussed in Last Analysis    So we have a close above 7634 suggesting market heading towards 7800/7859 odd levels till we close above 7634. Support are now at 7550-7500. Nifty again made low of 7643 which is near the zone of 7634 and made high of 7728, Now we have Weekly closing tomorrow and we are also near the channel resistance and gann horizontal line as shown in below 2 charts, So range of 7780-7800 become very crucial for next 2 trading days, short term correction can be seen if we close below 7634 towards 7500-7550   Bank Nifty forms hanging man,EOD Analysis

nifty daily

Break of gann trendline nifty

  • Nifty March Future Open Interest Volume is at 2.10 core with liquidation of  4.1 Lakh with increase in cost of carry suggesting short position were closed today, NF closed above Rollover cost @7147. Nifty rallied 500 points above Rollover cost
  • 7800  CE   is having Highest OI  at 64.5 lakh, resistance at 7800 .7300/7700 CE  liquidated 21 lakh so bears ran for cover as Nifty closed above 7634 .FII sold 2.7 K CE longs and 3.7 K CE were shorted  by them .Retail bought 31 K CE contracts and 12 K CE were shorted  by them.
  • 7400 PE OI@55.6 lakhs having the highest OI strong support at 7400 base becoming strong. 7200-7800 PE added 0.54 Lakh in OI .FII sold 316 PE longs  and 8.8 K PE were shorted  by them .Retail bought 1.1 K PE contracts and 338 shorted  PE were covered  by them.
  • FII’s bought 1095 cores in Equity and DII’s sold 930 cores in cash segment.INR closed at 66.71

Buy above 7720 Tgt 7744,7771 and 7801 (Nifty Spot Levels)

Sell below 7690 Tgt 7665,7644 and 7611 (Nifty Spot Levels)

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