- FII’s sold 5 K contract of Index Future worth 268 cores ,1.1 K Long contract were liquidated by FII’s and 3.8 K short contracts were added by FII’s. Net Open Interest increased by 2.7 K contract, so fall in market was used by FII’s to exit long and enter shorts in Index futures.Are You a Carrot, Egg, or Coffee Bean?
- As discussed in last analysis If we close above 7850 on weekly basis can see move back to 7950-7972 range and weekly close below 7850 can see move towards 7750-7700. Nifty closed at 7849.80, signalling the importance of 7850 gann number. Now as we closed just .20 points near 7850 so market has kept both bulls and bears in confusion suggesting next week we can see explosive move. Bank Nifty held on to 200 DMA,EOD Analysis
- Nifty April Future Open Interest Volume is at 2.06 core with addition of 5.2 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @7953, Nifty future made high of 7950 in morning session and came down almost 100 points
- Total Future & Option trading volume was at 2.24 Lakh core with total contract traded at 2.35 lakh , PCR @1.07, Trader’s Resolutions for the New Financial Year 2016-17
- 8200 CE is having Highest OI at 39.9 lakh, resistance at 8200 .7700/8200 CE added 43.1 lakh so bears added posiiton on higher level and will hold till nifty do not close above 7972 .FII bought 6.6 K CE longs and 15.2 K CE were shorted by them .Retail bought 54.9 K CE contracts and 37.4 K shorted CE were covered by them.
- 7700 PE OI@42.4 lakhs having the highest OI strong support at 7700. 7200-7700 PE added 48.6 Lakh in OI so strong base near 7500-7600 zone .FII bought 59.7 K PE longs and 5.6 K PE were shorted by them .Retail bought 13.4 K PE contracts and 44.8 K PE were shorted by them. FII’s added aggressive Nifty put at start of series, so today high of 7950 till not broken bias remain bearish.
- FII’s sold 205 cores in Equity and DII’s bought 28 cores in cash segment.INR closed at 66.32
- Nifty Futures Trend Deciding level is 7883 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 7916, TC followers got a good entry as NF made exact high of 7950 before correcting 100 points. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 7860 Tgt 7890,7921 and 7943 (Nifty Spot Levels)
Sell below 7820 Tgt 7796,7777 and 7741(Nifty Spot Levels)
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