- FII’s bought 169 K contract of Index Future worth 3897 cores, 156 K Long contract were added by FII’s and 12.7 K short contracts were squared off by FII’s. Net Open Interest increased by 144 K contract ,so FII’s added long and squared off shorts in Index futures.As per FII OI sheet 117k long index contracts reduced on 6th Jan 156 K long contracts got added today so tit for tat for bears.
- This is what we discussed last analysis Nifty saw an intraday correction which got bought into as it found support at its 21/34 HEMA suggesting underlying trend is bullish. Market generally trades volatile in triangle formation before a breakout/breakdown.Best is to trade less or hold on to existing positions. Trending moves should be seen in next 2 days. As per Hourly chart breakout has happened and new high is round the corner, Also as per gann box analysis once yellow line is crossed in gann box new high should come quickly.Last 15 mins nifty sold off due to Forex currency turmoil Forex Market shocked by Swiss National Bank decision but it was bought by FII’s so expect another gap up opening tomorrow.
- Nifty Future Jan Open Interest Volume is at 2.06 core with addition of 30.6 lakh in OI, huge long addition was seen today.
- Total Future & Option trading volume was at 3.72 lakh core with total contract traded at 8.3 lakh. PCR @1.01
- 8700 CE OI at 48.9 lakh so wall of resistance @ 8700 .8200/8500 CE saw huge liquidation of 44.4 lakhs so bears were caught off guard and ran for cover. FII bought 116 K CE and 17.6 K shorted CE were covered by them.
- 8300 PE OI@ 46.9 lakhs so strong base @ 8300. 8400 PE added 29.4 lakh in OI so base formation is happening at 8400. FII bought 21.1 K PE and 4 K shorted PE were covered by them.
- FII’s bought 1738 cores in Equity and DII sold 527 cores in cash segment.INR closed at 62.06.
- Nifty Futures Trend Deciding level is 8487 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8318 and BNF Trend Deciding Level 19283 (For Intraday Traders) BNF Trend Changer Level (Positional Traders) 18831 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 8527 Tgt 8553,8580 and 8613 (Nifty Spot Levels)
Sell below 8465 Tgt 8440,8410 and 8380 (Nifty Spot Levels)