- FII’s sold 24.7 K contract of Index Future worth 556 cores, 19.6 K Long contract were added by FII’s and 5 K short contracts were added by FII’s. Net Open Interest decreased by 24.7 K contract ,so FII’s liquidated long in Index Futures and continue adding shorts in index future.
- Nifty has corrected 575 points in the current correction, Review of Nifty Corrections in 2014 Nifty has broken both AF support and 50 SMA with gap down, now heading towards the 61.8% Fibo retracement of current fall. Nifty has from past 3 times bounced from this level as shown below. Bull market correction are fast and furious so use the dips to enter delivery based buying. As per quantitative analysis maximum rise seen in current fall is 80-90 points so if we rise more than 90 points we can see short term bottom is in place. I have been advocating on Buy the dips only for investors not for over leveraged traders for the simple reason we are in bull market. S&P 500 in past 4 years of Bull run showed such 5-8% dips almost 6 times and investors who bought those dips were rewarded handsomely.
- Nifty Future December Open Interest Volume is at 2.39 core with addition of 4 lakh in OI suggesting shorts addition ,with increase in VIX.
- Total Future & Option trading volume was at 4.01 lakh core with total contract traded at 6.9 lakh. PCR @1.01.
- 8500 CE OI at 59.9 lakh so wall of resistance @ 8500.8000/8400 CE saw addition of 61.3 lakh so bears are in full form.FII bought 16.4 K CE and 70.5 K CE were shorted by them.
- 8000 PE OI@ 63.8 lakhs so strong base @ 8000 with addition of 23.5 lakhs . 8100 PE did not liquidate 0.05 lakh in OI so 8100 PE writers have not panicked till now. FII bought 104 K PE and 44.7 K PE were shorted by them.
- FII’s sold 1247 cores in Equity and DII bought 534 cores in cash segment.INR closed at 63.53.
- Nifty Futures Trend Deciding level is 8158 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8468 and BNF Trend Deciding Level 18082 (For Intraday Traders) BNF Trend Changer Level (Positional Traders) 18544 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 8076 Tgt 8091,8130 and 8153(Nifty Spot Levels)
Sell below 8052 Tgt 8017,7975 and 7930 (Nifty Spot Levels)