Nifty Continue to close below Gann Angle,EOD Analysis

Saturday, June 17 Leave a Comment

  • FII's sold 3.6 K contract of Index Future worth 276 cores ,6.2 K Long contract were liquidated by FII's and 2.6 K Short contracts were liquidated by FII's. Net Open Interest decreased  by 8.8 K contract, so rise in market was used by FII's to exit long and exit short in  Index futures. FII's Long to Short Ratio maintained at 2.9 double bottom in FII Long to Short Ratio. The Missing Watch
  • As discussed in last analysis   Low made today was 9560 bears broke 9595 and finally closed below it and can push towards 9520/9480. Bullish above 9610 for a move towards 9660/9720/9770. As seen in below chart, nifty has done 2 time whipsaw at gann angle and shown a impulsive move on upside. Will it be repeated again ? 17 June is important trend change date as per geometric time cycle as it being holiday we should see effect either tomorrow or Monday.  Nifty continue to close below gann angle, but in the process formed an Inside bar pattern. Bullish above 9610 for a move towards 9660/9720/9770. Till we are closing below 9595

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