- FII’s bought 4675 contract of Index Future worth 191 cores, 9.1 K Long contract were added and 4.4K short contracts were added by FII’s. Net Open Interest increased by 13.5 K contract , so FII are adding both long and shorts in index futures.
- Nifty continued with its rally and did a high of 8100,Sensex closed above 27000.Traders who follow Harmonic pattern Nifty has completed its ABCD pattern , so 8100 becomes an important number, unable to close above it pullback till 8000 can be seen. Closing above 8100 move up till 8200/8240 in short term.
- Nifty Future Sep Open Interest Volume is at 1.66 cores with addition of 3.4 lakh suggesting long addition .VIX being very low suggests bulls are still overconfident and every dip is getting bought into.
- Total Future & Option trading volume was at 1.55 lakh core with total contract traded at 1.9 lakh. PCR @0.96, Volumes were lowest in recent time when nifty scaled above 8000.
- 8200 CE OI at 45.1 lakh suggesting wall of resistance , 8100 CE added 2.8 lakh suggesting resistance also at 8100 .8000 CE liquidated 3.7 lakh suggesting support around 8000 can be seen . FII’s bought 45.7 K CE longs and 11.9 K CE were shorted by them.
- 8000 PE OI@ 56.2 lakhs so strong base @ 8000. 7900 PE added 10 lakh in OI, so support building up @7900, 7800 PE added 4.3 lakh in OI suggesting informed buying at lower levels. .FII’s bought 13.8 K contract PE longs and 27.5 K PE were shorted by them.
- FII’s bought 672 cores in Equity and DII sold 168 cores in cash segment.INR closed at 60.68.
- Nifty Futures Trend Deciding level is 8100 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8047 and BNF Trend Changer Level (Positional Traders) 16003.How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 8100 Tgt 8111,8139 and 8176 (Nifty Spot Levels)
Sell below 8072 Tgt 8046, 8008 and 7980 (Nifty Spot Levels)