- FII’s sold 8.3 K contract of Index Future worth 5 cores,1.6 K Long contract were squared off by FII’s and 6.6K short contracts were added by FII’s. Net Open Interest increased by 4.9 K contract.
- As discussed in yesterday analysis, we thought Nifty has formed short term bottom and was ready to move up, Nifty opened gap up around 8849 and started moving down and closed well below 50 SMA, So Friday The 13 played its Role and rewarding Bears handsomely. Range of the day was 222 points. This is what we discussed today As per gann box close above 2X1 line@8800 will add bullishness. 8820 should be watched closely tomorrow once crossed will add to bullish momentum as we have weekly closing. As discussed yesterday Time Analysis shows big move round the corner we got 1 today expect another up move tomorrow. Many traders asked me “You said short term bottom formed” but market went down and which way the “big move” will come. One thing which all traders needs to understand market are dynamic in nature and we need to change view as market are changing, its a school of hard knock so never be biased towards your trades. To come above the Bias and control our emotions we developed the” Trading System” . We disucss 2 levels in the post for Positional traders as TC and for Intraday Trades levels mentioned in Blue and red. NF opened at 8874 and TC levels was 8881 indicating a short from the opening rate and Intraday traders got a clear trade below 8765 NS levels. So direction of Big move we got hint from TC levels was on downside and that with proper risk management we need to book and trail our positions. So trust the levels and believe them without bias. It will improve your trading.
- Nifty March Future Open Interest Volume is at 2.46 core with liquidation of 3.18 lakhs with increase in cost of carry.
- Total Future & Option trading volume was at 3.16 core with total contract traded at 6.7,lakh. PCR @0.87 approaching the oversold zone.
- 9000 CE OI at 54.5 lakh but saw liquidation of 0.46 lakh,wall of resistance @ 9000 .8700/8900 CE added 32.6 lakhs,so bears are back with bang now holding 66 lakhs so bears won the battle from bulls time being. FII bought 29.9 K CE longs and 9.2 K CE were shorted by them.
- 8500 PE OI@ 47.4 lakhs so strong base @ 8500. 8700/8900 PE saw addition of 16.7 lakhs in addition so bulls liquidated all the position formed yesterday. FII added 61.3 K PE longs and 12.2 K PE were shorted by them.
- FII’s bought 67 cores in Equity and DII sold 71 cores in cash segment.INR closed at 62.97.
- Nifty Futures Trend Deciding level is 8732 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8868 and BNF Trend Deciding Level 19065 (For Intraday Traders) BNF Trend Changer Level (Positional Traders) 19461 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . NF made high of 8874 near TC level of 8881 and BNF made exact high of 19500 and collapsed.Hope traders made good money
Buy above 8668 Tgt 8680,8709 and 8740 (Nifty Spot Levels)
Sell below 8631 Tgt 8600,8570 and 8555 (Nifty Spot Levels)