Nifty consolidate near gann trendline,EOD Analysis

By | June 8, 2016 8:30 pm


  • FII’s sold 3.8 K contract of Index Future worth 203 cores ,2.4 K Long contract were liquidated by FII’s and 1.3 K short contracts were added by FII’s. Net Open Interest decreased  by 1.1 K contract, so rise in market was used by FII’s to exit long and enter  shorts  in  Index futures.Mental Toughness Required by Traders Part-III
  •  As discussed in Yesterday Analysis  Now Bulls need a close above 8300 for a next move towards 8392.  High made was 8288, and we had the smallest range of Nifty in past 6 months, Bank Nifty Weekly Options expiry is one of the reason for such small range. Nifty should show big move in next 2 days as its been almost 3-4 session it has been consolidating near the gann trendline, so we can see breakout or breakdown in next 2-3 session. 8241-8210 is support on downside and 8336-8350 is resistance on upside.  Bank Nifty consolidating near 18000,EOD Analysis

gann trendline

  • Nifty June Future Open Interest Volume is at 2.14 core with addition of 1.5 Lakh with decrease in cost of carry suggesting long position were added today, NF  Rollover cost @7961 closed above it
  • 8300  CE  is having Highest OI  at 49.8 lakh, resistance at 8300 .8000/8500 CE  added 0.39 lakh so bears forming resistance at higher levels but not adding aggressively  .FII bought 5.6 K CE longs and 275 CE were shorted by them .Retail bought 10 K CE contracts and 4.5 K CE were shorted  by them.
  • 8000 PE OI@67.3 lakhs having the highest OI strong support at 8000. 8000-8600 PE added 21.6 Lakh in OI so strong base near 8000-8100 zone .FII bought 23.3 K PE longs  and 4.4 K PE were shorted by them .Retail bought 33 K PE contracts and 44.6 K PE were shorted by them.
  • FII’s bought 529 cores in Equity and DII’s sold 257 cores in cash segment.INR closed at 66.64.

Buy above 8302 Tgt 8335,8360 and 8392 (Nifty Spot Levels)

Sell below 8250 Tgt 8220,8200 and 8180 (Nifty Spot Levels)

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