- FII’s sold 18.4 K contract of Index Future worth 724 cores, 22 K Long contract were squared off and 3.6 K short contracts were squared off by FII’s. Net Open Interest decreased by 25.7 K contract , so FII liquidated long in index futures and also booked profit short in index futures.No fresh shorting done by FII’s suggests bottom is done or round the corner.
- Nifty has taken support @ 100 DMA today, suggesting short term bottom is in place. Nifty has corrected 450 points in this current correction which has lasted for 22 trading days. Shorts needs to be extreme cautious now as the reversal will be fast, we have Diwali and election results coming on Monday so bulls can see a fast and furious come back. Also Dow,European market seems to be making a short term bottom.
- Nifty Future October Open Interest Volume is at 1.44 core with liquidation of 2.7 lakh in OI with decrease in CoC suggesting long liquidation.
- Total Future & Option trading volume was at 2.41 lakh core with total contract traded at 2.8 lakh. PCR @0.91
- 8200 CE OI at 59.2 lakh suggesting wall of resistance , 7800/8000 CE added 35.4 lakh suggesting bears have got highly confident and any reversal will make them run for cover so moves will be very fast. FII’s sold 7.8 K CE longs and 691 shorted CE were covered by them.
- 7800 PE OI@ 66.9 lakhs so strong base @ 7800 . 7700 PE OI@51.1 lakh with addition of 1 lakh so 7700 PE will not be broken for time being, FII’s bought 31.5 K contract PE longs and 4.7 K PE were shorted by them.
- FII’s sold 1128 cores in Equity and DII bought 664 cores in cash segment.INR closed at 61.84.
- Nifty Futures Trend Deciding level is 7844 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 7942 and BNF Trend Changer Level (Positional Traders) 15555.How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 7790 Tgt 7807,7826 and 7851 (Nifty Spot Levels)
Sell below 7730 Tgt 7700,7680 and 7650 (Nifty Spot Levels)