- FII’s bought 8.4 K contract of Index Future worth 552 cores ,9.1 K Long contract were added by FII’s and 0.6 K short contracts were added by FII’s. Net Open Interest increased by 9.7 K contract, so rise in market was used by FII’s to enter long and enter 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 8476 so bears unable to break 8490 on closing basis but are also unable to close above 8577 gann numbers, suggesting fight between bulls and bears for close below 8490 or above 8577. Expect impulsive move in next 2 trading sessions. Close above 8577 or below 8490 can see a move of 100 points. Bank Nifty reacts from gann arc,EOD Analysis
- Nifty July Future Open Interest Volume is at 2.28 core with addition of 5.1 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover is at 73% and Rollover cost @8204 closed above it
- Total Future & Option trading volume was at 3.28 Lakh core with total contract traded at 1.5 lakh , PCR @1.09, Trader’s Resolutions for the New Financial Year 2016-17
- 8600 CE is having Highest OI at 61.2 lakh, resistance at 8600 .8400/8700 CE added 3.5 lakh so bears forming resistance at higher levels 8600-8650 zone .FII bought 3.5 K CE longs and 12.6 K CE were shorted by them .Retail bought 22.8 K CE contracts and 15.7 K CE were shorted by them.
- 8400 PE OI@61 lakhs having the highest OI strong support at 8400. 8200-8600 PE added 12 Lakh in OI so bulls making strong base near 8300-8400 zone .FII bought 9.6 K PE longs and 2.3 K PE were shorted by them .Retail bought 33.5 K PE contracts and 27 K PE were shorted by them.
- FII’s bought 549 cores in Equity and DII’s sold 377 cores in cash segment.INR closed at 67.11
- Nifty Futures Trend Deciding level is 8521 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8446 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 8555 Tgt 8577,8600 and 8632 (Nifty Spot Levels)
Sell below 8510 Tgt 8490,8450 and 8425 (Nifty Spot Levels)
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