Nifty keeps bulls and bears in dilemma ,EOD Analysis

By | July 21, 2016 12:10 am


  • FII’s bought 0.9 K contract of Index Future worth 46 cores ,3.5 K  Long contract were added by FII’s and 2.6 K short contracts were added by FII’s. Net Open Interest increased  by 6.1 K contract, so rise in market was used by FII’s to enter long and enter shorts  in  Index futures. When not to Trade
  •  As discussed in Yesterday Analysis   Bulls should protect 8490 else we can see a quick correction till 8410-8400. Bullish on close above 8577 for target of 8650, High made was 8569 so bulls unable to break 8577 gann numbers  on closing basis but  bears  also unable to close below 8490 , suggesting fight between bulls and bears for close below 8490 or above 8577. Expect impulsive move in next 2 trading sessions. Close above 8577 or below 8490 can see a move of 100 points.  Bank Nifty Continue to trade in gann arc,EOD Analysis

nifty suport zone

  • Nifty July Future Open Interest Volume is at 2.35 core with addition of 6.2 Lakh with increase in cost of carry suggesting long position were added today, NF  Rollover is at 73% and Rollover cost @8204 closed above it
  • 8600  CE  is having Highest OI  at 59.3 lakh, resistance at 8600 .8400/8700 CE  liquidated 6.8 lakh so bears forming resistance at higher levels,but cracks are visible suggesting  8600-8650 zone can break .FII bought 0.05 K CE longs and 4.7 K CE were shorted by them .Retail bought 9.9 K CE contracts and 9.3 K CE were shorted by them.
  • 8400 PE OI@61 lakhs having the highest OI strong support at 8400. 8200-8600 PE added 17.8 Lakh in OI so bulls making strong base near 8300-8400 zone .FII bought 7.6 K PE longs  and 6.7 K PE were  shorted by them .Retail bought 34.7 K PE contracts and 24  K PE were shorted by them.
  • FII’s bought 215.21 cores in Equity and DII’s sold 45.45 cores in cash segment.INR closed at 67.20

Buy above 8587 Tgt 8606,8631 and 8650 (Nifty Spot Levels)

Sell below 8545 Tgt 8528,8500 and 8475 (Nifty Spot Levels)

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