Nifty approaching the gann support zone, Will it Bounce?

Saturday, April 15 Leave a Comment

  • FII's bought 2 K contract of Index Future worth 146 cores ,1 K Long contract were liquidated  by FII's and 3 K Short contracts were liquidated  by FII's. Net Open Interest decreased  by 4 K contract, so fall in market was used by FII's to exit  long and exit short in  Index futures. Employ your mind wisely or else it will Employ You
As discussed in last analysis  It was day of whipsaw with nifty doing a volatile move but traders falling the gann analysis were safe as we did not break 9268 on upside high made was 9246 and low made was 9161 so we did not break 9130 on downside.  Plan remains the same long above 9268 for a move towards 9312/9368 and bearish below 9130 for a move till 8969/8920. Low made was 9144 near to our support of 9130, so on monday if 9130-9100 is held which is also near the gann angle support as shown in below chart and with new time cycle starting we can see a good move

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