- FII’s sold 1.3 K contract of Index Future worth 34 cores,5.6 K Long contract were added by FII’s and 6.9 K short contracts were added by FII’s. Net Open Interest increased by 12.5 K contract.Motivation Story for Traders :Marvan Atapatu Inspiring Life Story
- Nifty continued forming lower low and closed below its 20/50/100 SMA, falling 560 points in 6 trading .We saw a quick recovery in last 1 hour of trading after nifty formed a panic low of 8285 and saw a quick recovery also forming a hammer candlestick pattern. As discussed yesterday Gunner Analysis reached its target as shown in below chart, 8352 will play an important role going forward, if broken we can move towards 200 DMA and if held can see 150/200 points bounceback in nifty. We bounced 165 points from low , now move above 8469 will suggest we have formed short term bottom. Also Nifty again bounced from Murry math line so we can see fast and ferocious rally, if low hold true.
- Nifty April Future Open Interest Volume is at 2.13 core with liquidation of 1.5 lakhs with decrease in cost of carry suggesting short position got closed.
- Total Future & Option trading volume was at 3.85 core with total contract traded at 7.1 lakh. PCR @0.79 suggesting sentiments is turned extremely bearish.
- 8600 CE OI at 50.2 lakh , wall of resistance @ 8600 .8400/8600 CE saw addition of 9.7 lakhs ,so bears who added aggressively in and added 109 lakh in past 6 trading session, so bears have not liquidated even though we saw intraday rise. FII bought 14.6 K CE longs and 45.1 K CE were shorted by them.
- 8200 PE OI@ 43.3 lakhs so strong base @ 8200. 8500/8800 PE liquidated 8 lakh so bulls are stuck with panic still no addition seen in PE . FII bought 42.2 K PE longs and 11.3 K PE were shorted by them.
- FII’s sold 910 cores in Equity and DII’s bought 271 cores in cash segment.INR closed at 62.83.
- Nifty Futures Trend Deciding level is 8400 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8627 and BNF Trend Deciding Level 18136 (For Intraday Traders) BNF Trend Changer Level (Positional Traders) 18515 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 8450 Tgt 8469,8491 and 8553 (Nifty Spot Levels)
Sell below 8400 Tgt 8388,8350 and 8326 (Nifty Spot Levels)