- FII’s bought 11 K contract of Index Future worth 284 cores, 7.3 K Long contract were added by FII’s and 3.6 K short contracts were squared off by FII’s. Net Open Interest increased by 3.7 K contract ,so FII’s added long in Index Futures and squared off shorts in index futures.
- Nifty rose for 6 day in row and was able to close above the big trendline resistance of 8830-8840 range and closed at trendline keeping bulls and bears in limbo. Trend is up with higher highs formation intact. Gann Box is also approaching the yellow line and close above it will make sure we reach new all time high. Range of 8800-8809 becomes important support for tomorrow. 8884 is 78.6% retracement closing above it will make sure the whole move gets retraced.
- Nifty Future Feb Open Interest Volume is at 2.55 core with liquidation of 5 lakhs so short liquidation was seen, but few longs were also exited as cost of carry decreased.
- Total Future & Option trading volume was at 2.15 core with total contract traded at 3.5 lakh. PCR @1.
- 9000 CE OI at 66.1 lakh so wall of resistance @ 9000 .8500/8800 CE liquidated 7.2 lakhs so bears have started giving up after a 420 point rise but no addition was seen in 8900 CE and 10 lakh added on Friday are still holding out so 8900 will add as big resistance and gap up can take off that. FII bought 6.3 K CE and 1.2 K shorted CE were covered by them.
- 8500 PE OI@ 38.8 lakhs so strong base @ 8500. 8700/8900 PE saw addition of 15.4 so bulls have started adding aggressively and 8800 can add as short term support in case of any dip . FII bought 3.5 K PE and 3.8 K shorted PE were covered by them.
- FII’s bought 2188 cores in Equity, There were 2 Bulk deals in Hero and Tech M thats why seeing such big numbers and DII bought 327 cores in cash segment.INR closed at 62.34.
- Nifty Futures Trend Deciding level is 8884 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8787 and BNF Trend Deciding Level 19360 (For Intraday Traders) BNF Trend Changer Level (Positional Traders) 19420.How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 8894 Tgt 8905,8940 and 8960 (Nifty Spot Levels)
Sell below 8855 Tgt 8821,8800 and 8772 (Nifty Spot Levels)