Nifty Technical setup for Budget day

By | January 31, 2019 10:44 pm
  • As Discussed in Last Analysis   Today being an important date high and low are important as explained in video below Bulls will get active only above 10690 for a move back to 10730/10777/10821. Nifty did all target on upside and also rallied 150 points above 10690 above time cycle high. Now as tomorrow being a Budget day and lot of volatility will be seen in market so trade with extreme caution, Bulls will get active above 10843 for a move towards 10885/10931/10985/11040. Bears will get active below 10777 for a move back to 10730/10666/10610/10555.

  • Nifty Feb Future Open Interest Volume is at 1.71 core with addition of 45.7 Lakh with  increase in  cost of carry suggesting long position were added today, NF Rollover cost @10727 and Rollover %@54.
  • Total Future & Option trading volume at 19.64  Lakh core with total contract traded at 1.83  lakh , PCR @0.99

Buy above 10843 Tgt 10885,10931 and 10985 (Nifty Spot Levels)

Sell below 10777 Tgt 10750,10710 and 10666 (Nifty Spot Levels)

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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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