Will Nifty Bears be Whipsawed again?

Thursday, June 15 Leave a Comment

  • FII's sold 8.4 K contract of Index Future worth 578 cores ,3.1 K Long contract were liquidated by FII's and 5.3 K Short contracts were added by FII's. Net Open Interest increased  by 2 K contract, so rise in market was used by FII's to exit long and enter short in  Index futures. FII's Long to Short Ratio decreased to 2.9 suggesting decisive move round the corner. Are You Trading for Comfort?
  • As discussed in last analysis  Nifty closed below 9610 but again failed to close below 9595 so we are in no trade zone, as we did not close below 9595 and closed above 9610, we are near gann angles, so big move expected in next 2 trading sessions. Bullish above 9610 for a move towards 9660/9720/9770. Bearish below 9595 for a move towards 9520/9480. 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 ?

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