- FII’s bought 5.7 K contract of Index Future worth 394 cores ,39.1 K Long contract were added by FII’s and 33.3 K short contracts were added by FII’s. Net Open Interest increased by 72.4 K contract, so fall 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 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. High made today was 8645 and low made was 8577, so gann number of 8577 again showed its importance. Holding 8577 again another attempt can be made to break 8650 range. Its always good to go with flow of trend instead of trying to predict the top, and shorting blindly everyday. Bearish only on close below 8490 and bullish on close above 8677. Bank Nifty fails to close above 19000,EOD Analysis
- Nifty July Future Open Interest Volume is at 2.04 core with liquidation of 10 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 4.58 Lakh core with total contract traded at 1.8 lakh , PCR @0.96 , Trader’s Resolutions for the New Financial Year 2016-17
- 8700 CE is having Highest OI at 56.4 lakh, resistance at 8700 .8400/8700 CE liquidated 13.7 lakh another failed attempt to break 8650 .FII sold 1.6 K CE longs and 1.2 K CE were shorted by them .Retail bought 47 K CE contracts and 30.4 K CE were shorted by them.
- 8400 PE OI@50.2 lakhs having the highest OI strong support at 8400. 8200-8600 PE liquidated 23.6 Lakh in OI so bulls making strong base near 8400-8500 zone,but cracks visible .FII bought 2 K PE longs and 5.6 K PE were shorted by them .Retail sold 22 K PE contracts and 1.2 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 67.27
- Nifty Futures Trend Deciding level is 8629 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8483 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 8610 Tgt 8630,8750 and 8677 (Nifty Spot Levels)
Sell below 8560 Tgt 8537,8500 and 8470 (Nifty Spot Levels)
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