- FII’s bought 10.6 K contract of Index Future worth 631 cores ,3.6 Long contract were added by FII’s and 7 K short contracts were liquidated by FII’s. Net Open Interest decreased by 3.4 K contract, so rise in Nifty market was used by FII’s to enter long and exit shorts in Index futures.Do You Fear Missing Out?
- As discussed in last analysis Nifty closed just at 7850, Now we need to see 7950/7972 range closing above it will see market moving towards 8100/8250 as per gann analysis. Support at 7600. Low made was 7842 and close above 7914, also closed above 200 DMA. Now if we close above 7950/7972 range can see quick move towards 8100. Bearish only on close below 7850. Bank Nifty held on 16000,EOD Analysis
- Nifty April Future Open Interest Volume is at 1.58 core with liquidation of 3.5 Lakh with decrease in cost of carry suggesting short position were added today, NF Rollover cost @7740, Nifty future opened above it and rallied
- Total Future & Option trading volume was at 2.41 Lakh core with total contract traded at 1.5 lakh , PCR @1.05, Trader’s Resolutions for the New Financial Year 2016-17
- 8000 CE is having Highest OI at 74.4 lakh, resistance at 8000 .7500/8000 CE liquidated 7 lakh so bears liquidated as we closed above 7850 .FII bought 2.2 K CE longs and 110 shorted CE were covered by them .Retail sold 11.9 K CE contracts and 13.2 K CE were shorted by them.
- 7800 PE OI@55.5 lakhs having the highest OI strong support at 7500. 7500-8000 PE added 52 Lakh in OI so strong base near 7800 and upcoming base near 7600 .FII bought 6.2 K PE longs and 2.3 K shorted PE were covered by them .Retail bought 76.6 K PE contracts and 49.7 K PE were shorted by them.
- FII’s bought 977 cores in Equity and DII’s sold 313 cores in cash segment.INR closed at 66.55
- Nifty Futures Trend Deciding level is 7895 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 7717 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 7980 Tgt 8020,8050 and 8078 (Nifty Spot Levels)
Sell below 7940 Tgt 7920,7900 and 7864 (Nifty Spot Levels)
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