Nifty heading towards gann trendline,EOD Analysis

[ Thursday, June 23 | 0 comments ]
As discussed in Yesterday Analysis   Closing above 8210 is a very bullish sign and holding the same we can move towards 8300/8336/8410 in next few days.Bearish only on close below 8070.  High made today was 8285 and low made was 8188,so 8210 showed effect. We did close at 8204 yesterday this is market way of confusing traders but gann trendline helped us not doing any shorting and today once it moved above 8210 just moved  up impulsively. 22-June is an important gann data as per time analysis till 8153 not broken we can see upside till 8400/8450  near gann trendline as shown in below chart.Bulls will get momentum above 8336 and bears below 8150.  Will Bank Nifty Break Gann arc after holding gann trendline ,EOD Analysis

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Will Bank Nifty Break Gann arc after holding gann trendline ,EOD Analysis

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As discussing in past analysis If we break 17500 tomorrow we can see down move till 17350/17055 else again we will trade in range of 17500-18000. Doji near gann trendline did the trick as Bank nifty rallied High made was made was 17907 near gann arc, close above gann arc can see bulls getting momentum on upside.Bulls needs a close above 18051 for next move 18650-18750, Bears below 17500 for move towards 17350/17055. In between bank nifty will keep trading in range of 17500-18000 and do time correction. UK Brexit explained: What you need to know
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UK Brexit explained: What you need to know

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British voters are going to the polls on Thursday to vote on whether their country should remain a member of the European Union. Its had been in Media from last 2-3 weeks and had now reached a state of Frenzy.
Why Vote now after 40 Years ?
British Prime Minister David Cameron courted conservative and anti-EU voters during the last election by promising to hold a referendum on the UK's membership of the 28-nation bloc by the end of 2017. The EU economy is currently worth $16 trillion, the equivalent of one-fourth of the global gross domestic product (GDP). In recent years, there has been much disquiet in Britain over migration into the country from within the EU and its effects on wages and public services. Basically British are fearing Immigration from EU countries are taking their Jobs.
 Who Can Vote?
British and Irish citizens 18 and over who are resident in the United Kingdom, as well as UK residents from Commonwealth countries who have the right to live in the country can vote in the referendum. The Electoral Commission says a record number of 46,499,537 voters were registered for the referendum by Tuesday.
What's On The Ballot Paper?

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IRB AuroPharma and Hexaware Harmonic Analysis

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IRB

IRB

Positional Traders can use the below mentioned levels

Close above 212 Tgt 220/225

Intraday Traders can use the below mentioned levels

Buy above 211 Tgt


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Nifty doing time correction before next move,EOD Analysis

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FII
  • FII's sold 7.7 K contract of Index Future worth 497 cores ,7.8 K Long contract were liquidated by FII's and .07  K short contracts were liquidated by FII's. Net Open Interest decreased  by 7.8 K  contract, so fall in market was used by FII's to exit  long and exit  shorts  in  Index futures.Do you have Trading Regrets
 As discussed in Yesterday Analysis   Closing above 8210 is a very bullish sign and holding the same we can move towards 8300/8336/8410 in next few days.Bearish only on close below 8070.  High made today was 8238 and low made was 8154, and finally we close near 8210, Due to Britain Exit vote volumes are very dull in market and even a small volume can move market,

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