Nifty held on to gann angle,ready for trending move

Monday, April 17 Leave a Comment

  • FII's sold 1.3 K contract of Index Future worth 79 cores ,503 Long contract were liquidated  by FII's and 802 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  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 in nifty in next 1-2 session. We might see price and time squaring which can see change in trend or existing trend showing fast move. Longs can be taken in range of 9120-9130 with 20 point sl for a move towards 9200/9268. Bearish below 9100 for a move towards 9020. Low made today was 9120

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