Nifty Analysis as we approach Gann Aniversary Date

By | January 7, 2021 9:00 pm

  • FII sold 3.1 K contract of Index Future worth 217 cores, Net OI has decreased by 2.4 K contract 321 Long contract were added by FII and 2.8 K  Shorts were covered by FII. Net FII Long Short ratio at 3.9 So FII used rise to exit longs and exit shorts.FII have invested 10.7 K cores funds towards Index Option side in last 2 days. This is highest in last 55 days.Very high Open Interest in options for FII, and they would want some time decay to happen in the option premiums.
  • As discussed in Last Analysis  Another gap up open but unable to sustain above cluster of gann resistance 14250-14256 ,Gann Angle resistance As we have weekly expiry tommrow, bulls need to move above 14201 for a move back to 14250/14323. Nifty again failed to close above the gann resistance of 14250-14256 high made was 14254 and tunred back. Tommrow is an important date as per gann analysis as on 08 Jan 2008 we made the Top of 6357 so we are completing 13 years from that top.Bears below 14112 can see a quick fall towards 14060/13968/13924. Bulls need to move above 14192 for a move back to 14256/14305.

  • Total Future & Option trading volume at 62.2 Lakh core with total contract traded 1 lakh , PCR @1.05
  • Nifty Jan Future Open Interest Volume is at 1.23  Cores with liqudiation of 0.60 Lakh with increase in cost of carry suggesting short position were closed today, NF Rollover cost @13975
  • 14300 CE is having Highest OI at 18.5 Lakh, resistance at 14300 followed by 14400.13900-14100 CE added 14.2 Lakh in OI so bears added in range of 14300-14400.
  • 14100 PE OI@12.5 Lakhs having the highest OI strong support at 14100 followed by 14000. 13800-14000 PE added 22  Lakh in OI so bulls addded position in range 14000-14100.
  • FII’s bought 382 cores and DII’s sold 989 cores in cash segment.INR closed at 73.53

Buy Above 14155 Tgt 14173,14199 and 14221  (Nifty Spot Levels)

Sell Below 14112 Tgt 14090,14066 and 14039 (Nifty Spot Levels)

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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