- FII’s bought 52 K contract of Index Future worth 1023 cores ,94.3 K Long contract were added by FII’s and 41.4 K short contracts were added by FII’s. Net Open Interest increased by 135 K contract, so today’s fall in market was used by FII’s to enter long and enter shorts in index futures .Want to be Profitable Trader,Develop the following Qualities
- Nifty saw correction of 834 points in 4 trading sessions, saw a pullback of 213 points. In the process has formed Bat harmonic pattern as shown below in both Nifty and Bank Nifty. Todays low will be very important going forward.We were able to capture today’s low as per Demand and Supply analysis, Demand zone of 7664 and Nifty made low of 7667 and bounced back
- Nifty August Future Open Interest Volume is at 1.34 core with liquidation of 27 Lakh and addition of 44 lakh in Sep future Rollover stand at 47 % and avg cost of rollover @ 8049.
- Total Future & Option trading volume was at 4.9 Lakh core with total contract traded at 9.6 lakh . PCR @0.93.
- 8000 CE OI at 36.4 lakh , wall of resistance @ 8000 .7800/8000 CE added 5.1 lakh in OI so bears added minor position today in 8000 CE. FII bought 4.8 K CE longs and 74 K CE were shorted by them.Retail sold 90 K CE contracts and 129 K shorted CE were covered by them.
- 7800 PE OI@ 30 lakhs strong base @ 7800. 7900/8100 PE liquidated 12 lakh so major liquidation was seen in 8000/7900 PE bulls are showing sign of revival . FII sold 15.7 K PE longs and 8.3 K PE were shorted by them.Retail bought 35.9 K PE contracts and 38 K shorted PE contracts were covered by them.Retailers buying PE and market going up.
- FII’s sold 2 K cores in Equity and DII’s bought 1.9 K cores in cash segment.INR closed at 66.09 trading at 2 year low.1997 Asian Currency Crisis happening again
- Nifty Futures Trend Deciding level is 7822 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8432 and BNF Trend Deciding Level 17000 (For Intraday Traders) BNF Trend Changer Level (Positional Traders) 18543 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 7900 Tgt 7925 ,7950 and 7980 (Nifty Spot Levels)
Sell below 7860 Tgt 7830,7800 and 7777 (Nifty Spot Levels)
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nifty can go up to 8200 next month
There are positive divergences and this may indicate halt or slowing down of the down-slide. Sometimes due to strong momentum divergences occur more than once which tells us that movement is coming to an end. Bat Pattern may signify this view in the present context. A classic pattern like Bat Harmonic rarely fails.
today’s fall in market was used by FII’s to enter long and enter shorts in index futures ????? both.
yes longs in Aug and Short in Sep
Todays index moves clearly point to top ten Index heavyweights being propped up by DII buying. % deliverable on Reliance and HDFC was higher than normal which means that markets were managed to close at a higher level than what it should have been. Tomorrow will be another test of index management and the day of expiry is going to be fun and games. I am getting my popcorn and coke ready tomorrow. the markets show absence of buy orders on the FII desks, a portfolio liquidation order from them could simply crash the market. Lack of normal buying means the market would succumb to falls bcoz DII and domestic mutual fund redemptions will take the market down. gloom and doom for at least a month before we stabilize…
Dear Bramesh, please check the divergence in nifty and bank nifty. as per traditional indicator like MACD, AND RSI
Thanks bramesh ji. Can you please also provide bank nifty levels as you provide nifty levels in your daily analysis
Hi Bramesh Sir,
Please correct the FII’s future contracts data. It seems you have entered the yesterday’s figures of 129k long contracts addition and 144k short contracts addition.
Thanks.
Bramesh sir what r the nifty targets for this bat pattern
the first target is set to 61.8% of CD, followed by 1.272% of CD and finally the projection of XA from D, the entry point.