- FII’s sold 34595 contract of Index Future worth 1394 cores, 13.8 K Long contract were squared off and 20.7 K short contracts were added by FII’s. Net Open Interest increased by 6.8 K contract , so FII squared off both long and added shorts in Index futures.
- Nifty opened with gap down , and traded in a small range for rest of the day, This is the 2 gap down after making high of 8180. Now 7984-8000 range needs to be watched closely,Holding the same bounce back can be seen till 8107/8128 range.Any close below 8000 can see a quick down move to 7930/7984 range. Hourly EW is shown in below chart.As per time analysis big move can be seen in coming 2 days.
- Nifty Future Sep Open Interest Volume is at 1.34 cores with liquidation of 2.4 lakh suggesting long liquidation.OI is very low in Nifty future so both bulls and bears are not carrying heavy positions suggesting range bound move can continue.
- Total Future & Option trading volume was at 1.87 lakh core with total contract traded at 2 lakh. PCR @0.90.
- 8200 CE OI at 67.5 lakh suggesting wall of resistance , 8100 CE added 3.2 lakh .8000 CE added 3.4 lakh suggesting bears are making position for NF to touch 8000 so we can see a correction continuing to 8000. FII’s sold 4.5 K CE longs and 1.3 K CE were shorted by them.
- 8000 PE OI@ 74 lakhs so strong base @ 8000. 7900 PE OI@54 so support building up @7900, So fight for 8000 will be seen in coming 2 days . FII’s bought 11.2 K contract PE longs and 18.2 K shorted PE were by covered by them.FII’s covering PE in large quantity shows its sell on rise market till 8128 is not crossed.
- FII’s sold 74 cores in Equity and DII sold 74 cores in cash segment.INR closed at 61.14.
- Nifty Futures Trend Deciding level is 8066 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8107 and BNF Trend Changer Level (Positional Traders) 16140.How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 8050 Tgt 8070,8097 and 8116 (Nifty Spot Levels)
Sell below 8022 Tgt 8002, 7984 and 7954 (Nifty Spot Levels)