Nifty Bears does 9726 below Time Cycle low

By | September 27, 2017 11:12 pm

  • FII’s sold 4.4 K contract of Index Future worth 249 cores ,5.2 K Long contract were added by FII’s and 9.6 K Short contracts were added by FII’s. Net Open Interest increased  by 14.8 K contract, so fall in market was used by FII’s to enter long and enter  short in  Index futures. FII’s Long to Short Ratio at 0.93.  Do You Stick to Losing Positions in Trading ?
  • As discussed in last analysis  Low made today was 9813 and we saw a decent bounce back in nifty from gann angle lows as seen in below chart,now bulls should hold 9820 till expiry for a move towards 10000. Longs can be taken above 9905 for a move till 9999, Fresh short below 9810 for a move towards 9726/9685/9631/9540/9449. What a day its a perfect day for trader who follow gann rules, We told to keep an eye on high and low of trend change date and as soon low was broken which was 9813 and our price level was 9810 free fall started and stopped exactly near our target of 9726 low made was 9714, Break of 9685 we can see the fall continue towards 9631/9540/9449.  Bullish only above 9820 for a move towards 9900/9995. As seen in below chart we have we have today closed at 1×1 line of falling angle,  If we close below 9700 on Weekly basis we can see fall9382 in short term.  Bank Nifty see waterfall decline once Time Cycle low broken

  • Nifty September Future Open Interest Volume is at 1.42 core with liquidation of 34 Lakh with increase in  cost of carry suggesting short position were closed today, NF Rollover cost @9910 Closed below it as High made was 9904 on Thursday and saw fall of 200 points.
  • Total Future & Option trading volume at 11.36 Lakh core with total contract traded at 1.96 lakh , PCR @0.85
  • 9800 CE  is having Highest OI  at 39.3 Lakh, resistance at 9800 followed by 9850 .9700-9900 CE added huge 69.3 Lakh in OI so bears added major position  in range of 9700-9800, suggesting expiry below 9850. FII bought 5.3 K CE and 18.7 K CE were shorted by them. Retail bought 122 K CE and 56.7 K CE were shorted by them
  • 9700 PE OI@37.7 lakhs having the highest OI strong support at 9700 followed by 9750. 9700-10200 PE liquidated 45 Lakh in OI so bulls covered position in 9800-9900 PE. FII bought 16.6 K  PE and 6.9 K shorted PE were covered by them. Retail sold 65.2 K PE and 6.9 K PE were shorted by them
  • FII’s sold 856 cores  and DII’s bought 1858 cores in cash segment.INR closed at 65.71

Buy above 9755  Tgt 9775,9790 and 9813 (Nifty Spot Levels)

Sell below 9740 Tgt 9710,9690 and 9666 (Nifty Spot Levels)

 Upper End of Expiry:9806

 Lower End of Expiry :9666

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