FII's sold 1.7 K contract of Index Future worth 111 cores ,0.6 K
Long contract were liquidated by FII's and 1.1 K short contracts were
added by FII's. Net Open Interest increased by 0.5 K contract, so fall
in market was used by FII's to exit long and enter shorts in Index
futures. Why Trading is a mental game
As discussed last Analysis Now
going forwards 8740-8750 range is very very crucial crossing the same
Bulls can see move towards 8951-9000, Unable to cross another down move
towards 8520. 8710-8732 is crucial range for bulls as its gann resistance and
Bank Nifty holds 19320, fails to close above 19500, EOD Analysis
As discussed in Last analysis
Till we are holding 19000 we can see move till 19318, momentum will
come on close above 19318 for move till 19501/19732, Bears will get
active below 19000 for a move till 18750. Low made today was 19162 and
we did target of 19318 and momentum came above 19318 and did the target
of 19501 as High made today was 19511.Big rise came today but we got
early indication as 19000 was holding from past 2 days, Close above
19511 will see next move towards 19700. Trades should watch 19700 very
closely for coming week as major trend change will happen above 19700
and we can see move towards 20000/20400 on upside and unable to close
above 19700 can see fast fall towards 19000 again. Today was
classic day of resistance becoming support as bulls used 19318 as
support and bounced back, but were unable to close above 19500 ,
suggesting till 19318 is held we can trade in range of 19320-19500
Nifty rallies 150 points holding 8520,supported by gann time,EOD Analysis
FII's
sold 8.9 K contract of Index Future worth 729 cores ,0.9 K Long
contract were liquidated by FII's and 7.9 K short contracts were added
by FII's. Net Open Interest increased by 7 K contract, so rise in
market was used by FII's to exit long and enter shorts in Index
futures. Why Trading is a mental game
As discussed last Analysis
On Downside strong support in the range of 8448-8450. Nifty made low
of 8549.80 and range of 8500-8520 was protected, now bulls need a close
above 8600 for a fast move till 8642/8663, Close above 8663 will give
momentum to bulls for a fast move 8756/8800 Bear will get active below
8518 for target 8476/8448 . Nifty closed at 8520, border line of bulls
and bears. Below 8520 we can see move till 8476/8448 and holding 8520
another attempt to break wall of resistance at 8600. Nifty closed