- FII’s bought 1292 contract of Index Future worth 52 cores, 5.9 K Long contract were squared off and 7.2 K short contracts were squared off by FII’s. Net Open Interest decreased by 13.2 K contract , so FII squared off long and shorts in Index futures.
- Nifty formed DOJI pattern after yesterday’s decline, levels of 7925 were held by market, Nifty is near its trendline support and also has corrected just 38.2% retracement of the rise from 7540 odd levels. So holding 7906/7864 the bullish structure is intact. Hourly EW analysis is also shown below.
- Nifty Future Sep Open Interest Volume is at 1.26 cores with liquidation of 2.8 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 2.24 lakh core with total contract traded at 1.84 lakh. PCR @0.85.
- 8200 CE OI at 77.5 lakh suggesting wall of resistance , 8100 CE liquidated 1.3 lakh suggesting bears have started booking profit.8000 CE also liquidated 0.75 lakh. FII’s bought 11.7 K CE longs and 853 CE were shorted by them.
- 8000 PE OI@ 63.8 lakhs so strong base @ 8000. 7900 PE OI@57.5 so support building up @7900, So fight for 8000 will be seen in coming 2 days . FII’s bought 13.7 K contract PE longs and 864 PE contract were by covered by them.
- FII’s bought 136 cores in Equity and DII sold 161 cores in cash segment.INR closed at 60.91.
- Nifty Futures Trend Deciding level is 7987 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8091 and BNF Trend Changer Level (Positional Traders) 16116.How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 7968 Tgt 8000,8021 and 8045 (Nifty Spot Levels)
Sell below 7914 Tgt 7890, 7864 and 7850(Nifty Spot Levels)