Nifty Bounce From Gann Angle, EOD Analysis

  • As Discussed in Last Analysis – We have monthly expiry today and we are back to gann angle support so above 11476 bulls will get active for a move back to 11520/11600. Bears will get active below 11410 for a move back to 11370/11312. High made was 11610 so all bullish target done above 11476 and we bounced from gann angle, Now Bulls need to move above 11580 for a move back to 11621/11664/11740. Bears have there chance below 11520 for a move back to 11466/11410.

  • Total Future & Option trading volume at 33  Lakh core with total contract traded at 2 lakh , PCR @0.74
  • Nifty Oct Future Open Interest Volume is at 1.47 core with addition of 39 Lakh with increase in  cost of carry suggesting long position were added today, NF Rollover cost @11608 closed above it. 
  • FII’s  sold 342 cores and DII’s sold 762 cores in cash segment. INR closed at 70.90

Buy Above 11580 Tgt 11600,11630 and 11666 (Nifty Spot Levels)

Sell Below 11545 Tgt 11521,11500 and 11470 (Nifty Spot Levels)