- Nifty after yesterday decline of 100 points is quiet well trading in the price channel band as seen in below chart. 7864/7990 are 2 numbers which need to be watched closely in coming 3 trading session, Holding the same we can see a quick bounce to 8020/8040 and holding the same we will make a dash towards new high on or before 23 October. As per Bias theory also we are still in neutral zone and near an important 1.023 support so be cautious on shorts. Do remember We have a 3 trading holiday from 2/3/6 October
- Nifty Future October Open Interest Volume is at 1.57 lakh with addition of 34.2 lakh, 1.26 cores NF got rollovered from September series,
- Total Future & Option trading volume was at 5.32 lakh core highest ever in Indian markets with total contract traded at 2.7 lakh. PCR @0.84.
- 8200 CE OI at 36.2 lakh suggesting wall of resistance , 8100 CE added 32.2 lakh so bears are making another wall of resistance around 8100, 8000 CE no major change in OI suggesting 8000 can be captured today on NF.
- 7800 PE OI@ 38.7 lakhs so base @ 7000 at the start of series . 7900 PE OI@38.6 lakh so 7900 also will act as strong support in case of any fall today.
- FII’s sold 851 cores in Equity and DII bought 818 cores in cash segment.INR closed at 61.34.
- Nifty Futures Trend Deciding level is 8001 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8001 and BNF Trend Changer Level (Positional Traders) 15571 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 7936 Tgt 7954,7984 and 8020 (Nifty Spot Levels)
Sell below 7911 Tgt 7870 , 7853 and 7820 (Nifty Spot Levels)