Nifty bounce 100 points from time cycle low of 11550

By | April 13, 2019 10:38 am

  • FII’s sold 4.2 K contract of Index Future worth 436 cores 1.1 K Long contract were covered by FII’s and 3.1 K Short contracts were added by FII’s. Net Open Interest increased  by 2 K contract, so rise in Nifty was used by FII’s to exit long and enter short in  Index futures.FII’s Long to Short Ratio at 1.71. Trading Psychology: Cutting Winning Trades Short
  • As Discussed in Last Analysis Rangebound day did not trigger both buy and sell levels. Bulls need to move above 11621 for a move back to 11666/11710.Bears will get active below 11549 for a move towards 11494/11441. High made was 11657 so almost near our target of 11666,Nifty continued to be in sideways mode as it happened in 2014 election, As Gann always said study the past data to know the future same is discussed in below video. Now Bulls need to hold 11610-11621 range for upmove to continue towards 11710/11760. Bears will get active below 11549 for a move towards 11494/11441.  Bank Nifty bounce from time cycle low of 29700

  • Nifty April Future Open Interest Volume is at 1.50 core with liquidation  of 2.4 Lakh with  decrease in  cost of carry suggesting long position were closed today, NF Rollover cost @11537.
  • Total Future & Option trading volume at 5.8 Lakh core with total contract traded at 0.95 lakh , PCR @0.85
  • 11800 CE  is having Highest OI  at 22.6  Lakh, resistance at 11800  followed by 11900 .11000-11800 CE liquidated 6.7 Lakh in OI so bears covered position in range of 11600-11800. FII bought 6.2 K CE and 591 CE were shorted by them. Retail bought 32.8 K CE and 39.9 K CE were shorted by them
  • 11500 PE OI@29 Lakhs having the highest OI strong support at 11500 followed by 11400 . 11000-11600 PE added 4.5 Lakh in OI so bulls added position in range 11300-11400 PE.FII bought 11.6 K PE and 3.2 K PE were shorted by them. Retail bought 98 K PE and 3  K  PE were shorted by them.

Buy above 11650  Tgt 11674,11690 and 11721 (Nifty Spot Levels)

Sell below 11620 Tgt 11600,11585 and 11570 (Nifty Spot Levels)

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