Nifty Bounce From Gann Angle Support

  • FII’s bought 7.1 K contract of Index Future worth 632 cores 7.5 K Long contract were added by FII’s and 336 Short contracts were added by FII’s. Net Open Interest increased  by 7.8 K contract, so fall in Nifty was used by FII’s to enter long and enter short in  Index futures.FII’s Long to Short Ratio at 2.39. Trading Psychology: Cutting Winning Trades Short
  • As Discussed in Last Analysis  As we are near support zone fresh shorts should be taken below 11555 only for a move back to 11512/11470. Bulls will get active again above 11610 for a move back to 11666/11721/11760. Low made was 11609 so we got a perfect entry and did our  1 target of 11666 now waiting for 11721/11760. Bearish below 11570 for a move towards 11512/11470  Bank Nifty bounce from Gann Angle Support

  • Nifty April Future Open Interest Volume is at 1.58 core with addition of 3.7 Lakh with  increase in  cost of carry suggesting long position were added today, NF Rollover cost @11537.
  • Total Future & Option trading volume at 6.23  Lakh core with total contract traded at 0.96  lakh , PCR @1.02
  • 11800 CE  is having Highest OI  at 18.9 Lakh, resistance at 11700  followed by 11800 .11000-11800 CE added 0.27 Lakh in OI so bears added position in range of 11600-11800. FII bought 4.2 K CE and 4.7 K CE were shorted by them. Retail bought 53.3 K CE and 58.3 K CE were shorted by them
  • 11500 PE OI@22.6 Lakhs having the highest OI strong support at 11500 followed by 11400 . 11000-11600 PE added 8.8 Lakh in OI so bulls added position in range 11300-11400 PE.FII bought 13.4 K PE and 13.8 K PE were shorted by them. Retail bought 124 K PE and 93.1 K PE were shorted by them

Buy above 11690 Tgt 11711,11735 and 11760 (Nifty Spot Levels)

Sell below 11650 Tgt 11620,11600  and 11570 (Nifty Spot Levels)