- FII’s bought 7 K contract of Index Future worth 195 cores,5.8 K Long contract were squared off by FII’s and 12.8 K short contracts were squared off by FII’s. Net Open Interest decreased by 18.7 K contract so today’s rise was used by FII’s to square off both longs and shorts in Index Future .Trading using the McClellan Oscillator
- This is what we discussed yesterday Nifty has meet its ABC pattern target of 7994 made low of 7997 and saw a bounce back in last 30 mins of trading. Nifty also held on to its Median line of AF as shown in below chart. Also last 3 correction were marked by DOJI pattern which was formed today. Tomorrow if market opens gap up will signal formation of Morning Star Candlestick pattern , but all this move requires a follow up move tomorrow and price closing above 8124. Now we are entering a new quadrant in coming week so 8319/8336 should be watched.
- Nifty May Future Open Interest Volume is at 1.39 core with liquidation of 12.6 lakhs with cost of carry going positive suggesting short position got closed.
- Total Future & Option trading volume was at 2.12 core with total contract traded at 5.5 lakh. PCR @0.90.
- 8500 CE OI at 45.6 lakh , wall of resistance @ 8500 .8100/8400 CE saw liquidation of 4.6 lakhs ,so bears liquidated few position but still holding 82 lakh . FII bought 95 K CE longs and 739 shorted CE were covered by them.Retailers have sold 1.17 lakh CE contracts in yesterdays session.
- 8000 PE OI@ 47.6 lakhs so strong base @ 8000. 8100/8400 PE added 8.1 lakh so bulls showing sign of life. FII bought 7.9 K PE longs and 2.2 K PE were shorted by them.
- FII’s sold 437 cores in Equity and DII’s bought 1114 cores in cash segment.INR closed at 63.92
- Nifty Futures Trend Deciding level is 8202 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8231 and BNF Trend Deciding Level 17773 (For Intraday Traders) BNF Trend Changer Level (Positional Traders) 18167 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 8236 Tgt 8260,8281 and 8337 (Nifty Spot Levels)
Sell below 8180 Tgt 8135,8130 and 8100 (Nifty Spot Levels)