- FII’s bought 4.8 K contract of Index Future worth 319 cores ,1.8 K Long contract were added by FII’s and 3 K short contracts were liquidated by FII’s. Net Open Interest decreased by 1.1 K contract, so fall in market was used by FII’s to enter long and exit shorts in Index futures.What goes around comes around
- As discussed in Yesterday Analysis Bulls needs a close above 8210-8241 range for next move towards 8336/8400 else correction till 8075/8000. ABCD pattern will get invalidated on close above 8242. Weekly closing tomorrow, Bulls would like to close above 8210 which will trigger a new gann cycle which can move till 8336/8410/8557. ABCD is still active as we have close below 8242 but as we got a Weekly close above 8210 new gann cycle has been activated for target of 8336/8410/8557, so market keeping both bulls and bears in state of confusion. Trade for coming 2 days should be long above 8242 for target of 8336 and below 8210 correction till 8134. As we have said in previous analysis till 7972 is protected trend is buy on dips. Bank Nifty close above 17670,EOD Analysis
- Nifty June Future Open Interest Volume is at 2.11 core with liquidation of 3.2 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @7961 closed above it
- Total Future & Option trading volume was at 1.81 Lakh core with total contract traded at 1.51 lakh , PCR @0.94, Trader’s Resolutions for the New Financial Year 2016-17
- 8400 CE is having Highest OI at 44.9 lakh, resistance at 8400 .8000/8600 CE bought 8.3 lakh so bears forming resistance at higher levels as nifty unable to close above 8241 .FII bought 3.3 K CE longs and 300 CE were shorted by them .Retail bought 22 K CE contracts and 16.3 K CE were shorted by them.
- 8000 PE OI@61 lakhs having the highest OI strong support at 8000. 8000-8600 PE added 13.2 Lakh in OI so strong base near 8000-8100 zone .FII bought 5.6 K PE longs and 11.1 K PE were shorted by them .Retail bought 22.7 K PE contracts and 13.7 K shorted PE were covered by them.
- FII’s bought 1585 cores in Equity and DII’s sold 393 cores in cash segment.INR closed at 67.04
- Nifty Futures Trend Deciding level is 8251 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8172 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 8250 Tgt 8275,8300 and 8332 (Nifty Spot Levels)
Sell below 8200 Tgt 8180,8150 and 8125 (Nifty Spot Levels)
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