- FII’s bought 20.2 K contract of Index Future worth 397 cores ,23.1 K Long contract were added by FII’s and 2.8 K short contracts were added by FII’s. Net Open Interest increased by 25.9 K contract, so today’s rise was used by FII’s to enter longs in index futures Overcoming Emotions As A Day Trader
- As discussed yesterday Nifty is entering the new quadrant as per gunner so there is high probability of 8423 breaking and heading towards 8470 which is near 1*2 gann line. Higher High Higher low formation are forming uptrend continues. Strong support at 8300 zone below than 8250. Nifty made high of 8481 around 100 DMA, and gann 1*2 line and closing above the same can see move till 8524/8619.Strong support at 8398/8370 zone. Ichimoku Kinko Hyo has also shown breakout on daily chart as shown below.
- Nifty July Future Open Interest Volume is at 1.70 core with addition of 6.9 Lakh, with decrease in CoC suggesting longs have exited out of system today.NF Rollover range @8357 should be kept close eye on,holding below bears are in control above it bulls have upper hand.
- Total Future & Option trading volume was at 1.75 core with total contract traded at 4.5 lakh. PCR @1.07
- 8500 CE OI at 33.4 lakh , wall of resistance @ 8500 .8000/8500 CE liquidated 6.5 lakh so bears liquidated positions and just holding 10 lakhs overall. FII bought 43.3 K CE longs and 14.8 K CE were shorted by them.Retail bought 0.09 K CE contracts.
- 8000 PE OI@ 57.5 lakhs so strong base @ 8000. 7900/8500 PE added 22.6 lakh so bulls added aggressively today and have added 56 lakh suggesting bulls are still in control of market . FII bought 23.4 K PE longs and 15.7 K PE were shorted by them.Retail bought 88.1 lakh PE contracts. SO again retailers going long in PE and market rising.
- FII’s bought 75 cores in Equity and DII’s bought 52 cores in cash segment.INR closed at 63.6
- Nifty Futures Trend Deciding level is 8430 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8362 and BNF Trend Deciding Level 18424 (For Intraday Traders) BNF Trend Changer Level (Positional Traders) 18275 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 8480 Tgt 8500,8524 and 8550 (Nifty Spot Levels)
Sell below 8430 Tgt 8400,8388 and 8350 (Nifty Spot Levels)