- FII’s bought 83.7 K contract of Index Future worth 1749 cores, 96.9 K Long contract were added by FII’s and 13.2 K short contracts were added by FII’s. Net Open Interest increased by 110 K contract ,so FII’s added both long and shorts in index future in a dull day of trading.
- Nifty made new life high today @ 8707 as we have been anticipating , As discussed in last analysis Nifty closed above 8550 suggesting supply is getting observed. As per Hourly chart breakout has happened and new high is round the corner, Also as per gann box analysis Nifty was able to close above yellow line convincingly so possibility of big rise is round the corner. Expect a trending move in next 2 trading sessions. Also in our Weekly Analysis Gann date should have helped traders. As per Elliot wave current up move can go till 8750/8770 range before time wise correction.
- Nifty Future Jan Open Interest Volume is at 2.17 core with addition of 16.6 lakh in OI, major short liquidation and fresh long addition seen.
- Total Future & Option trading volume was at 2.90 lakh core with total contract traded at 5 lakh. PCR @1.06,VIX still trading above 17 keeping option premium high, good time for option writers as once VIX goes down prices will crash vertically. VIX is rising as we have Japan and EU central banker policy on 21 and 22 Jan.
- 8700 CE OI at 48 lakh so wall of resistance @ 8700 .8200/8500 CE saw huge liquidation of 20 lakhs so bears continued with their covering of Calls. FII bought 96.6 K CE and 3.6 K CE were shorted by them.
- 8400 PE OI@ 56 lakhs so strong base @ 8400. 8600/8700 PE added 40.3 lakh in OI so base formation is happening at 8600/8700. FII sold 4.9 K PE and 49.2 K PE were shorted by them.
- FII’s bought 1275 cores in Equity and DII sold 761 cores in cash segment.INR closed at 61.69.
- Nifty Futures Trend Deciding level is 8659 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8506 and BNF Trend Deciding Level 19670 (For Intraday Traders) BNF Trend Changer Level (Positional Traders) 19270 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 8708 Tgt 8744,8764 and 8792 (Nifty Spot Levels)
Sell below 8658 Tgt 8638,8610 and 8575 (Nifty Spot Levels)