- FII’s bought 14.1 K contract of Index Future worth 318 cores,39 K Long contract were added by FII’s and 24.9 K short contracts were added by FII’s. Net Open Interest increased by 64 K contract.Conquer the Four Fears to be Profitable trader Part-I
- Nifty continued forming lower low and closed below its 20/50/100 SMA, falling 502 points in 5 trading . 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. As discussed yesterday Pyrapoint support at 225 degree line comes @8374, Nifty made low of 8352 bounced back sharply.
- Nifty April Future Open Interest Volume is at 2.14 core with addition of 10 lakhs with increase in cost of carry suggesting long position got added.
- Total Future & Option trading volume was at 3.23 core with total contract traded at 5.9 lakh. PCR @0.86 suggesting sentiments is turned bearish.
- 8500 CE OI at 45.5 lakh , wall of resistance @ 8500 .8400/8600 CE saw addition of 29.4 lakhs ,so bears who added aggressively in and added 100 lakh in past 5 trading session. FII sold 6.5 K CE longs and 48.3 K CE were shorted by them.
- 8300 PE OI@ 44.8 lakhs so strong base @ 8400. 8500/8800 PE liquidated 24.7 lakh so bulls are stuck with panic . FII bought 87.9 K PE longs and 5.9 K PE were shorted by them.
- FII’s bought 17.4K cores in Equity and DII’s bought 1364 cores in cash segment.INR closed at 62.86.
- Nifty Futures Trend Deciding level is 8446 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8641 and BNF Trend Deciding Level 18217 (For Intraday Traders) BNF Trend Changer Level (Positional Traders) 18540 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 8400 Tgt 8427,8447 and 8470 (Nifty Spot Levels)
Sell below 8350 Tgt 8330,8290 and 8245 (Nifty Spot Levels)