- FII’s sold 7.1 K contract of Index Future worth 96 cores,29.6 K Long contract were added by FII’s and 36.7 K short contracts were added by FII’s. Net Open Interest increased by 66.4 K contract. Things You Should do Before Trading for A Living
- Nifty reacted from the zone of support as shown in below chart, took support near 20 SMA, AS today is expiry day any break of 8277 we can see deeper cut in market.Move above 8342 can see nifty moving towards 8383/8400 odd levels. Below 8320 Fibo Retracement are at 8262/8197 levels.
- Nifty May Future Open Interest Volume is at 0.86 core with liquidation of 21.4 lakh, 36 lakh added in June Series, rollovers stands at just 53% at price of 8344. Nifty future roll cost traded at ~55-56 points (adjusted for dividend of 35 points expected in June) for most part of the day. 144 K contracts were rolled; 85 K contracts were unwound in the near month. With NF trading in discount, a good proportion of open interest in Nifty futures is positioned towards reverse arbitrage positions (buy Nifty futures and sell constituents in cash). FII’s would prefer to roll over the long Nifty futures at lower level Hence they would prefer to roll at relatively low levels from the current one.
- Total Future & Option trading volume was at 3.93 core with total contract traded at 4.6 lakh. PCR @0.98
- 8500 CE OI at 54 lakh , wall of resistance @ 8500 .8100/8400 CE liquidated 38 lakh ,so bears liquidated open position near expiry and still holding 27 lakh open position. FII sold 22.3 K CE longs and 14.3 K CE shorted were covered by them.
- 8300 PE OI@ 52 lakhs so strong base @ 8300. 8300/8600 PE liquidated 6.9 lakh so bulls liquidated 59 lakh position in 3 trading session but managed to hold 8300. FII sold 19.1 K PE longs and 18.2 K PE were shorted by them.
- FII’s sold 934 cores in Equity and DII’s bought 594 cores in cash segment.INR closed at 63.98
- Nifty Futures Trend Deciding level is 8314 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8295and BNF Trend Deciding Level 18409 (For Intraday Traders) BNF Trend Changer Level (Positional Traders) 18221 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 8342 Tgt 8358,8383 and 8423 (Nifty Spot Levels)
Sell below 8315 Tgt 8294,8255 and 8230 (Nifty Spot Levels)
Expiry Upper Range:8410
Expiry Lower Range:8259