- FII’s bought 12.7 K contract of Index Future worth 806 cores ,9.5 K Long contract were added by FII’s and 3.2 K short contracts were liquidated by FII’s. Net Open Interest increased by 6.3 K contract, so fall in market was used by FII’s to enter long and cover shorts in Index futures. When not to Trade
- As discussed in Yesterday Analysis Bulls should protect 8490 else we can see a quick correction till 8410-8400. Bullish on close above 8577 for target of 8650, Low made was 8494 so bears unable to break 8490 but bulls are also unable to close above 8577 gann numbers, suggesting fight between bulls and bears for close below 8490 or above 8577. Break of either level can see a move of 100 points. Bank Nifty reacts from gann arc,EOD Analysis
- Nifty July Future Open Interest Volume is at 2.23 core with liquidation of 1.3 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover is at 73% and Rollover cost @8204 closed above it
- Total Future & Option trading volume was at 3.01 Lakh core with total contract traded at 1.25 lakh , PCR @1.11, Trader’s Resolutions for the New Financial Year 2016-17
- 8600 CE is having Highest OI at 60.4 lakh, resistance at 8600 .8400/8700 CE added 15.3 lakh so bears forming resistance at higher levels 8600-8650 zone .FII bought 10.4 K CE longs and 8 K CE were shorted by them .Retail bought 38 K CE contracts and 27.8 K CE were shorted by them.
- 8400 PE OI@56 lakhs having the highest OI strong support at 8400. 8200-8600 PE added 3.2 Lakh in OI so bulls making strong base near 8300-8400 zone .FII bought 13.9 K PE longs and 7.4 K PE were shorted by them .Retail bought 2.8 K PE contracts and 9.3 K PE were shorted by them.
- FII’s bought 599 cores in Equity and DII’s sold 439 cores in cash segment.INR closed at 66.91
- Nifty Futures Trend Deciding level is 8565 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8440 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 8540 Tgt 8565,8590 and 8622 (Nifty Spot Levels)
Sell below 8520 Tgt 8500,8480 and 8440 (Nifty Spot Levels)
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