- FII’s bought 26.9 K contract of Index Future worth 647 cores,20.9 K Long contract were added by FII’s and 5.9 K short contracts were squared off by FII’s. Net Open Interest decreased by 26.9 K contract so today’s intraday fall was used by FII’s to squared off shorts and add longs in Index Future. Why 90% Traders fail in Trading ?
- As discussed in last analysis Triangle pattern in hourly pattern as shown in below chart, has broken on upside, we need to see follow up move on Monday. Gunner is also entering new quadrant and pyrapoint analysis suggests Nifty is ready for an explosive move. Nifty meet the triangle target today of 8427 made exact high and saw a 100 points intraday dip. Gunner is still positive quadrant till holding above 1*1 gann line for bulls to get in momentum as per pyrapoint 8427 should be broken else dip towards 8228 is on cards.
- Nifty May Future Open Interest Volume is at 1.36 core with liquidation of 0.02 lakhs with cost of carry going negative suggesting long position got closed. OI is lowest in last 3 months, such low OI generally suggests trending move is round the corner.
- Total Future & Option trading volume was at 2.79 core with total contract traded at 5.5 lakh. PCR @1 .04approaching overbought zone.
- 8500 CE OI at 50.9 lakh , wall of resistance @ 8500 .8100/8400 CE saw addition of 3.2 lakh ,so bears did not add aggressively but still holding 76 lakh open position. FII bought 22.8 K CE longs and 25.2 K shorted CE were covered by them.Retailers also wrote 66K of CE position, So FII’s Buying CE and Retailers shorting CE.
- 8000 PE OI@ 54.4 lakhs so strong base @ 8100. 8100/8400 PE liquidated 1.7 lakh so bulls are gaining ground and holding 60 lakh open position. FII bought 2 K PE longs and 0.06 K PE were shorted by them.
- FII’s bought 48 cores in Equity and DII’s bought 451 cores in cash segment.INR closed at 63.76
- Nifty Futures Trend Deciding level is 8375 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8250 and BNF Trend Deciding Level 18390 (For Intraday Traders) BNF Trend Changer Level (Positional Traders) 18129 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 8376 Tgt 8414,8456 and 8504 (Nifty Spot Levels)
Sell below 8320 Tgt 8300,8283 and 8231(Nifty Spot Levels)