- FII’s bought 10.7 K contract of Index Future worth 591 cores ,7.1 K Long contract were added by FII’s and 3.6 K short contracts were liquidated by FII’s. Net Open Interest increased by 3.4 K contract, so fall in Nifty market was used by FII’s to enter long and exit shorts in Index futures.How to fight with Trading Emotions
- As discussed in Last Analysis Bulls need close above 7554 for a move towards 7634. Bears below 7400 for move towards 7350/7228, Nifty opened with gap up made high of 7585 and again unable to close above both gann trendline and demand zone of 7554, but again was able to held on to gann arc, suggesting bulls are in control.Time correction always lead to whipsaw if not trading on proper methodology. Close above 7554 is important for a move towards 7634, Bears have chance only on close below 7400. Bank Nifty unable to close above gann trendline,EOD Analysis
- Nifty March Future Open Interest Volume is at 2.14 core with liquidation of 2.2 Lakh with decrease in cost of carry suggesting long position were closed today, NF closed above Rollover cost @7147. Nifty rallied 300 points above Rollover cost
- Total Future & Option trading volume was at 2.89 Lakh core with total contract traded at 2 lakh , PCR @1.06, .How To Identify Market Tops and Bottom
- 7500 CE is having Highest OI at 71.3 lakh, resistance at 7500 .7000/7500 CE liquidated 5 lakh so bears ran for cover as Nifty bounced from demand zone .FII bought 21.3 K CE longs and 12.6 K CE were shorted by them .Retail bought 15.3 K CE contracts and 25 K shorted CE were covered by them.
- 7400 PE OI@66 lakhs having the highest OI strong support at 7400 base becoming strong. 7200-7600 PE added 26.4 Lakh in OI .FII bought 8.2 K PE longs and 2.2 K PE were shorted by them .Retail bought 11.9 K PE contracts and 1.3 K PE were shorted by them.
- FII’s bought 744 cores in Equity and DII’s sold 168 cores in cash segment.INR closed at 66.74
- Nifty Futures Trend Deciding level is 7561 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 7366 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 7540 Tgt 7585,7631 and 7678 (Nifty Spot Levels)
Sell below 7500 Tgt 7470,7450 and 7420 (Nifty Spot Levels)
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