- FII’s bought 31056 contract of Index Future worth 1200 cores, 29.4 K Long contract were added and 1.5 K short contracts were squared off by FII’s. Net Open Interest increased by 27.9 K contract.FII’s made the single largest purchase of Index future in July series.
- Nifty has been rising from past 6 trading session and will hit a fresh all time high today. Nifty crossed and closed above the 7731 Budget high, Only concern in Mid and small cap Index are not participating in rally, Advance/Decline is also not favorable for the rise. So caution is advised near all time high and trail your long position with Strict SL. The previous count as per EW has failed and here is new count which also suggests to be cautious around 7800 odd levels.As per time analysis, the rally can get terminated by today afternoon or tomorrow.
- Nifty Future July Open Interest Volume is at 1.63 cores with addition of 13.8 K suggesting long addition in Index.
- Total Future & Option trading volume was at 2.21 lakh core with total contract traded at 2.5 lakh. PCR @1.03. This shows overconfidence in BUlls.
- 8000 CE OI at 83.1 lakh suggesting wall of resistance , 7900 CE saw 10.3 lakh addition suggesting Bears are building wall of resistance @ 7900 ,FII’s bought 16 K CE longs and 3.6 K s CE were shorted by them.
- 700 PE saw a huge addition of 32 lakh in OI suggesting overconfidence in bulls to hold 7700 , 7600 PE also added 5 lakhs .FII’s sold 4.3 K PE longs and 14.2 K PE were shorted by them.
- FIIs bought 412 cores in Equity and DII bought 59.2 cores in cash segment.INR closed at 60.29.
- Nifty Futures Trend Deciding level is 7740 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 7641 and BNF Trend Changer Level (Positional Traders) 15236 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 7774 Tgt 7790,7809 and 7840 (Nifty Spot Levels)
Sell below 7745 Tgt 7723, 7704 and 7666 (Nifty Spot Levels)