Nifty does breakout heading towards 8600,EOD Analysis

By | January 24, 2017 10:12 pm

  • FII’s bought 5.6 K contract of Index Future worth 371 cores ,19.8 K Long contract were added by FII’s and 14.2 K short contracts were added by FII’s. Net Open Interest increased  by 34.1 K contract, so rise in market was used by FII’s to enter long and enter  shorts  in  Index futures. A Person who won’t stand for something will fall for anything..
  • As discussed in last analysis   Nifty did low of 8327 doing the target of cypher pattern  and bounced back and closed above breakdown level of 8370 but failed to closed above 8410 and also 8432 suggesting bulls are still under pressure, Fresh shorts below 8328 only,for a move till 8290/8250. Bullish only above 8432. Bulls are back with a bang with a close above 8432/8460 both and now holding 8432 heading towards 8555/8600. Bearish only on close below 8328 Bank Nifty bounces 300 points from gann support,EOD Analysis

  • Nifty Jan Future Open Interest Volume is at 1.07 core with liquidation of 46 Lakh with decrease in cost of carry suggesting short  position were closed today, NF Rollover cost @8031 moved 400 points above it.
  • Total Future & Option trading volume at 5.65 Lakh core with total contract traded at 1.78  lakh , PCR @1.10
  • 8500  CE  is having Highest OI  at 36 lakh, resistance at 8500 followed by 8600 .8000/8600 CE  liquidated 47 Lakh so bears covered position in 8400/8500 CE .FII sold 10.7 K CE longs and 455 CE were shorted by them .Retail sold 24 K CE contracts and 8.1 K shorted  CE were covered by them.
  • 8300 PE OI@55.3 lakhs having the highest OI strong support at 8300 followed by 8200. 8000-8600 PE added 14.9 Lakh in OI so bulls added in 8400/8300 PE. FII sold 1.9  K PE longs  and 12 K shorted PE covered were by them .Retail bought 62.1 K PE contracts and 27.3 K PE were shorted by them.
  • FII’s bought 93 cores in Equity and DII bought 5333 cores in cash segment.INR closed at 68.14

Buy above 8480  Tgt 8505,8530 and 8555 (Nifty Spot Levels)

Sell below 8450 Tgt 8422,8400 and 8380 (Nifty Spot Levels)

Upper End of Expiry: 8545

Lower End of Expiry: 8408


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Category: Nifty Technical Analysis

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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