- FII’s sold 12.4 K contract of Index Future worth 31 cores ,2.6 K Long contract were liquidated by FII’s and 9.8 K short contracts were added by FII’s. Net Open Interest increased by 7.1 K contract, so today’s fall in market was used by FII’s to exit long and enter fresh shorts in Index futures Trading is a mental game
- Nifty finally closed above the gann line of resistance but struggling to cross the green arc as shown below and above that the horizontal line at 8313/8321 range which is also point where harmonic ABCD pattern will get invalidated , The current rally from the low of 7539 is the biggest rally in percentage term as Nifty is up almost 9% or 744 points from low. 8313 is important zone of resistance and bulls should use this to lighten up, Support at 8220/8204 range .Bank Nifty close tad above breakout level,EOD Analysis
- Nifty October Future Open Interest Volume is at 1.95 core with liquidation of 3.4 Lakh with decrease in CoC suggesting long position were closed today. Rollover cost @7940 for October series, Once NF closed above it 360 points rally done
- Total Future & Option trading volume was at 1.88 Lakh core with total contract traded at 3.2 lakh . PCR @1.06, bulls getting overconfident. Live SGX Nifty chart from 6:30-11:30 http://sgxrtchart.blogspot.in/
- 8300 CE OI at 57.8 lakh , wall of resistance @ 8300 .7700/8200 CE liquidated 1.4 lakh in OI so bears used the fall to cover their position. FII sold 6 K CE longs and 7.8 K CE were shorted by them.Retail bought 27.4 K CE contracts and 6.6 K CE shorted were covered by them.
- 8000 PE OI@ 58.3 lakhs strong base @ 8000. 7900/8400 PE added 4.5 lakh so bulls added position in today’s fall suggesting all dips are bought by bulls, shakeout is required to dent confidence of bulls . FII bought 3.9 K PE longs and 2.4 K shorted PE were covered by them .Retail bought 38.3 K PE contracts and 33.7 K PE were shorted by them.Retailers are playing for range bound move.
- FII’s bought 523 cores in Equity and DII’s sold 354 cores in cash segment.INR closed at 65.05.
- Nifty Futures Trend Deciding level is 8261 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8098 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 8294 Tgt 8309,8333 and 8359 (Nifty Spot Levels)
Sell below 8225 Tgt 8200,8165 and 8140 (Nifty Spot Levels)