- FII’s sold 4.1 K contract of Index Future worth 228 cores ,7.4 K Long contract were added by FII’s and 11.6 K short contracts were added by FII’s. Net Open Interest increased by 19 K contract, so rise in market was used by FII’s to enter long and enter shorts in Index futures. Trading Lesson Learnt From my Trading Guru Part-II
- 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, Expect impulsive move in next 2 trading sessions. Beauty of this bull run from 6825 is time correction, current move also its 9 days we have been trading in range of 8594-8476 suggesting time correction and another trending move of 200-250 points on cards. Nifty made low of 8489 on Friday and once 8577 broken gave the fast move till 8641 near our target of 8650, Now the zone of 8654-8677 is crucial supply zone, closing above 8677 level again can see fast move till 8849. We have resistance zone at every 100-150 points as market has spend lot of time in this range during the 2015 year. Bearish on close below 8490 only. Bank Nifty does 300 point target,EOD Analysis
- Nifty July Future Open Interest Volume is at 2.14 core with liquidation of 18.3 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 4.47 Lakh core with total contract traded at 1.8 lakh , PCR @0.99 , Trader’s Resolutions for the New Financial Year 2016-17
- 8700 CE is having Highest OI at 61.3 lakh, resistance at 8700 .8400/8700 CE liquidated 16.8 lakh so will Bulls be able to break the resistance zone of 8650 .FII bought 7.1 K CE longs and 1.5 K shorted CE were covered by them .Retail sold 15 K CE contracts and 5 K CE were shorted by them.
- 8500 PE OI@57.6 lakhs having the highest OI strong support at 8500. 8200-8600 PE added 18.2 Lakh in OI so bulls making strong base near 8400-8500 zone .FII bought 4 K PE longs and 5.4 K PE were shorted by them .Retail bought 63.6 K PE contracts and 42.5 K PE were shorted by them.
- FII’s bought 891 cores in Equity and DII’s sold 67 cores in cash segment.INR closed at 67.34
- Nifty Futures Trend Deciding level is 8598 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8474 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 8650 Tgt 8678,8700 and 8721 (Nifty Spot Levels)
Sell below 8595 Tgt 8577,8555 and 8520 (Nifty Spot Levels)
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