Nifty Bulls again fail to close above gann angle,EOD Analysis

Thursday, November 10 Leave a Comment

  • FII's bought 2.8 K contract of Index Future worth 204 cores ,1 K Long contract were added by FII's and 1.8 K short contracts were liquidated by FII's. Net Open Interest increased  by 764 contract, so rise in market was used by FII's to enter long and exit shorts  in  Index futures.
As discussed in last analysis Bulls need a close above 8487 for a move towards 8600/8737. Bears will get active below 8400 for a fast move towards 8287/8100. Nifty opened above 8487 made low of 8510 and rallied to make high of 8598.5 near our target of 8600. Today high is very important as its near the gann angles which nifty failed to cross in past 5 attempt as seen in below chart. Bulls need a close above 8600 for a move towards 8656/8737. Bears will get active below 8300

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