- FII’s bought 37.2 K contract of Index Future worth 853 cores,40.2 K Long contract were added by FII’s and 3 K short contracts were added by FII’s. Net Open Interest increased by 43.2 K contract so today’s rise was used by FII’s to add majority longs in Index Future. How Traders can Optimize Trading Mindset Part-I
- Nifty has formed Narrowest Range in past 1 trading session also known as NR 21 pattern , which suggests breakout/breakdown of large magnitude is on cards in near future, which side we will cover in analysis going forwards. 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 1.35 core with liquidation of 0.19 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 2.18core with total contract traded at 4.1 lakh. PCR @1 .32approaching overbought zone.
- 8500 CE OI at 49.4 lakh , wall of resistance @ 8500 .8100/8400 CE saw liquidation of 10.2 lakh ,so bears liquidated aggressively but still holding 66 lakh open position. FII bought 22.1 K CE longs and 9.2 K shorted CE were covered by them.
- 8100 PE OI@ 56.1 lakhs so strong base @ 8100. 8100/8400 PE added 24 lakh so bulls are gaining ground and holding 84 lakh open position. FII sold 3.5 K PE longs and 0.04 K PE were shorted by them.Retailers also bought 1.28 lakh of PE position, So FII’s Buying CE and Retailers buying PE.
- FII’s bought 123 cores in Equity and DII’s bought 103 cores in cash segment.INR closed at 63.82
- Nifty Futures Trend Deciding level is 8428 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8263 and BNF Trend Deciding Level 18534 (For Intraday Traders) BNF Trend Changer Level (Positional Traders) 18160 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 8445 Tgt 8467,8494 and 8530 (Nifty Spot Levels)
Sell below 8415 Tgt 8396,8370 and 8347 (Nifty Spot Levels)