Nifty close above 8210 but below 8242,EOD Analysis

By | June 4, 2016 11:36 am


  • FII’s bought 4.8 K contract of Index Future worth 319 cores ,1.8 K Long contract were added by FII’s and 3 K short contracts were liquidated by FII’s. Net Open Interest decreased  by 1.1  K contract, so fall in market was used by FII’s to enter long and exit shorts  in  Index futures.What goes around comes around
  •  As discussed in Yesterday Analysis  Bulls needs a close above 8210-8241 range for next move towards 8336/8400 else correction till 8075/8000. ABCD pattern will get invalidated on close above 8242. Weekly closing tomorrow, Bulls would like to close above 8210 which will trigger a new gann cycle which can move till 8336/8410/8557. ABCD is still active as we have close below 8242 but as we got a Weekly close above 8210 new gann cycle has been activated for target of 8336/8410/8557, so market keeping both bulls and bears in state of confusion. Trade for coming 2 days should be long above 8242 for target of 8336 and below 8210 correction till 8134. As we have said in previous analysis till 7972 is protected trend is buy on dips.  Bank Nifty close above 17670,EOD Analysis

Supply Demand


  • Nifty June Future Open Interest Volume is at 2.11 core with liquidation of 3.2 Lakh with decrease in cost of carry suggesting long  position were closed today, NF  Rollover cost @7961 closed above it
  • 8400  CE  is having Highest OI  at 44.9 lakh, resistance at 8400 .8000/8600 CE  bought 8.3 lakh so bears forming resistance at higher levels as nifty unable to close above 8241  .FII bought 3.3 K CE longs and 300 CE were shorted by them .Retail bought 22 K CE contracts and 16.3 K CE were shorted  by them.
  • 8000 PE OI@61 lakhs having the highest OI strong support at 8000. 8000-8600 PE added 13.2 Lakh in OI so strong base near 8000-8100 zone .FII bought 5.6 K PE longs  and 11.1 K PE were shorted by them .Retail bought 22.7 K PE contracts and 13.7 K shorted PE were covered by them.
  • FII’s bought 1585 cores in Equity and DII’s sold 393 cores in cash segment.INR closed at 67.04

Buy above 8250 Tgt 8275,8300 and 8332 (Nifty Spot Levels)

Sell below 8200 Tgt 8180,8150 and 8125 (Nifty Spot Levels)

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Category: Gann Cycle NIfty Demand Zone

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.

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