- FII’s sold 985 contract of Index Future worth 42 cores, 1.8 K Long contract were squared off and 846 short contracts were squared off by FII’s. Net Open Interest decreased by 985 contract , so FII are doing profit booking in long and shorts in Index Futures.
- Nifty opened with big gap and quickly moved above 8000. Nifty closed above 7000 on 12 May 2014 so it took 76 trading session to move 1000 points.As per Hourly EW nifty can move around 8044 than see a small correction till 8016 and finally can moved around 8100+ in short term. Also we are forming an expanding triangle which is bearish in nature so caution is always advised and trail positions with strict stoploss.
- Nifty Future Sep Open Interest Volume is at 1.63 cores with addition of 3.8 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 1.44 lakh core with total contract traded at 1.44 lakh. PCR @0.92, Volumes were lowest in recent time when nifty scaled above 8000.
- 8200 CE OI at 44.1 lakh suggesting wall of resistance , 8100 CE added 4 lakh suggesting resistance also at 8100 .8000 CE added 1.4 lakh suggesting support around 8000 can be seen . FII’s bought 55.7 K CE longs and 4.8 K CE were shorted by them.
- 7900 PE OI@ 42.5 lakhs so strong base @ 7900. 8000 PE added 17.5 lakh in OI, so support building up @8000, 7800 PE added 10.2 lakh inOI suggesting informed buying at lower levels. .FII’s bought 13.6 K contract PE longs and 16.5 K PE were shorted by them.
- FII’s bought 554 cores in Equity and DII sold 562 cores in cash segment.INR closed at 60.52.
- Nifty Futures Trend Deciding level is 8049 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8021 and BNF Trend Changer Level (Positional Traders) 15915.How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 8030 Tgt 8047,8066 and 8098 (Nifty Spot Levels)
Sell below 8014 Tgt 7996, 7964 and 7945 (Nifty Spot Levels)