- FII’s bought 63.8 K contract of Index Future worth 1511 cores ,55.2 K Long contract were added by FII’s and 8.5 K short contracts were squared off by FII’s. Net Open Interest increased by 46.6 K contract, so today’s rise was used by FII’s to enter longs in index futures Are you Victim of Fear of losing ?
- As discussed in previous analysis Nifty is heading towards 1*2 gann line and closing above it and pyrapoint resistance of 8487 will give green signal to bulls for rally till 8600/8670, Nifty closed above 1*2 gann line and today closed above supply demand, suggesting bulls are in control and heading towards 8645/8670 where pyrapoint resistance lies.
- Nifty July Future Open Interest Volume is at 2.12 core with addition of 7.9 Lakh, with decrease in CoC suggesting shorts have entered the system. NF Rollover range @8357 has helped bulls.
- Total Future & Option trading volume was at 2.23 core with total contract traded at 3.8 lakh. PCR @1.33, overconfidence in Bulls.
- 8700 CE OI at 39.6 lakh , wall of resistance @ 8600 .8000/8500 CE liquidated 11.8 lakh so bears feel the pain as VIX reduced 20% in last 8 days ran for cover holding 7 lakhs overall. FII bought 27.1 K CE longs and 12.6 K CE were shorted by them.Retail sold 47.5 K CE contracts.
- 8400 PE OI@ 54 lakhs so strong base @ 8400. 8500/8700 PE added 31 lakh still holding 160 lakh suggesting bulls have made aggressive positions at lower levels . FII bought 32.9 K PE longs and 17.5 K PE were shorted by them.Retail bought 108 K PE contracts.So again retailers buying PE and market is going up.
- FII’s bought 745 cores in Equity and DII’s sold 98 cores in cash segment.INR closed at 63.41
- Nifty Futures Trend Deciding level is 8599 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8430 and BNF Trend Deciding Level 19116 (For Intraday Traders) BNF Trend Changer Level (Positional Traders) 18601 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 8636 Tgt 8662,8682 and 8708 (Nifty Spot Levels)
Sell below 8588 Tgt 8562,8542 and 8516 (Nifty Spot Levels)