- FII’s sold 18.1 K contract of Index Future worth 231 cores ,4.3 K Long contract were squared off by FII’s and 13.8 K short contracts were added by FII’s. Net Open Interest increased by 9.5 K contract, so today’s market was used by FII’s to exit longs in index futures and enter shorts. Trading Behaviors That Destroy Traders
- Nifty continue to form higher high but failed to form higher low formation and formed double bottom near 8450, still unable to cross crucial supply area as discussed in Weekly analysis. Nifty is also stuck in gann arc and today got supported at 1*2 angle.
- Nifty August Future Open Interest Volume is at 1.60 core with liquidation of 7.9 Lakh, with increase in CoC suggesting short positions got closed today.NF Rollover price came at 8503. Crucial Observation near NF Rollover price FII sold around 12 lac NF in 2 lots of 6 lac each and market from 8503 fell to low of 8470 in single tick , When NF recovered to 8503 FII’s bought 6 lack NF in single tick and made it 8535 nf so level of 8503 which is ROllover range played crucial role today .
- Total Future & Option trading volume was at 2.24 core with total contract traded at 5 lakh . PCR @0..93
- 8800 CE OI at 45.4 lakh , wall of resistance @ 8800 .8400/8800 CE added27.9 lakh in OI so bears came back in full swing but need to see follow up move. FII bought 19.8 K CE longs and 52.2 K CE were shorted by them.Retail bought 97.7 K CE contracts and 59.1 K CE were shorted by them.
- 8200 PE OI@ 48.9 lakhs strong base @ 8200. 8300/8600 PE added 19.8 lakh so major addition seen in 8400/8600 PE and 42 lakh from start of series . FII bought 59.4 K PE longs and 6.6 K PE were shorted by them.Retail bought 58.8 K PE contracts and 87.2 K PE contracts were shorted by them.
- FII’s bought 118 cores in Equity and DII’s sold 112 cores in cash segment.INR closed at 63.7
- Nifty Futures Trend Deciding level is 8523 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8525 and BNF Trend Deciding Level 18964 (For Intraday Traders) BNF Trend Changer Level (Positional Traders) 18813 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 8530 Tgt 8571,8600 and 8625 (Nifty Spot Levels)
Sell below 8500 Tgt 8470,8450 and 8430 (Nifty Spot Levels)