Will Nifty again bounce from Gann Support zone,EOD Analysis

Tuesday, November 15 Leave a Comment

  • FII's sold 22.4 K contract of Index Future worth 1356 cores ,1.5 K Long contract were liquidated by FII's and 20.9 K short contracts were added by FII's. Net Open Interest increased  by 19.3 K contract, so fall in market was used by FII's to exit long and enter shorts  in  Index futures.
As discussed in last analysis Nifty opened with gap down and continued with its fall and closed below our important gann number of 8300.  Below 8300 Nifty can see quick fall towards 8180/8080. Above 8300 expect another move towards 8400/8556. 8300 is the LOC between Bulls and bears for next week. Nifty opened at 8288 below 8300 quickly sold off  low made today was 8093 near our target of 8080. Now again Nifty is at crossroads near gann angle as show in below chart,

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