- FII’s sold 21.9 K contract of Index Future worth 312 cores,6.9 K Long contract were squared off by FII’s and 15 K short contracts were added by FII’s. Net Open Interest increased by 8 K contract so today’s consolidation was used by FII’s to add majority shorts in Index Future. How Traders can Optimize Trading Mindset Part-II
- Nifty continue with its range contraction which is healthy for market as we have 2 weeks of wild moves, range contraction also 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 we have been discussing the whole important pyrapoint number of 8427 , Nifty still has not been able to close above it. Range contraction in hourly charts with band of support and resistances are shown in below chart. Tomorrow is all important gann date so trade cautiously.
- Nifty May Future Open Interest Volume is at 1.31 core with liquidation of 4.3 lakhs with cost of carry going negative suggesting short 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 2.20 core with total contract traded at 3.6 lakh. PCR @1 .18
- 8500 CE OI at 50.5 lakh , wall of resistance @ 8500 .8100/8400 CE saw liquidation of 3.2 lakh ,so bears liquidated but still holding 63 lakh open position. FII bought 22 K CE longs and 1.7 K CE were shorted by them.
- 8200 PE OI@ 60.3 lakhs so strong base @ 8200. 8300/8600 PE added 5.3 lakh so bulls are gaining ground and holding 89 lakh open position. FII bought 4 K PE longs and 3.2K PE were shorted by them.Retailers also bought 0.67 lakh of PE and shorted 0.87 lakh , So Retailers buying and shorting PE and FII buying all out in CE option.
- FII’s sold 186 cores in Equity and DII’s bought 404 cores in cash segment.INR closed at 63.64
- Nifty Futures Trend Deciding level is 8410 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8273 and BNF Trend Deciding Level 18469(For Intraday Traders) BNF Trend Changer Level (Positional Traders) 18174 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 8450 Tgt 8480,8514 and 8530 (Nifty Spot Levels)
Sell below 8380 Tgt 8352,8323 and 8300 (Nifty Spot Levels)