- FII’s sold 4.2 K contract of Index Future worth 248 cores ,1.4 K Long contract were added by FII’s and 5.6 K short contracts were added by FII’s. Net Open Interest increased by 7.1 K contract, so fall in market was used by FII’s to enter long and enter shorts in Index futures.Understanding Market Sentiment
- Nifty Shark pattern again came to rescue for bulls as market again got sold off trading near 18 months low but still unable to close below 7503. Close below 7503 increases probability of Nifty going towards 7400/7118.Holding the same bounceback till 7610 and above that 7676. Bullish only on close above 7767. Bank Nifty near 18 month low,EOD Analysis
- Nifty January Future Open Interest Volume is at 2.17 core with liquidation of 1.7 Lakh with decrease in cost of carry suggesting long position closed today . Nifty rollover cost 7930 close below it saw sharp decline
- Total Future & Option trading volume was at 2.05 Lakh core with total contract traded at 1.5 lakh , PCR @0.80.
- 8000 CE OI at 70 lakh , wall of resistance @ 8000 .7600/8000 CE added 21 lakh in OI as bears added aggressively in 7700/7800 CE .FII bought 2.6 K CE longs and 20.4 K CE were shorted by them .Retail bought 60 K CE contracts and 10.5 K CE were shorted by them.
- 7500 PE OI@59.9 lakhs strong base @ 7500. 7500/8000 PE liquidated 8 lakh so bulls ran for cover .FII bought 22.4 K PE longs and 2.9 K PE were shorted by them .Retail sold 6.3 K PE contracts and 10.5 K PE were shorted by them.
- FII’s sold 540 cores in Equity and DII’s bought 141 cores in cash segment.INR closed at 66.86
Buy above 7530 Tgt 7560,7600 and 7629 (Nifty Spot Levels)
Sell below 7490 Tgt 7470,7445 and 7430 (Nifty Spot Levels)
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