- FII’s bought 10.5 K contract of Index Future worth 673 cores ,10.3 K Long contract were added by FII’s and 273 short contracts were liquidated by FII’s. Net Open Interest increased by 10 K contract, so fall in market was used by FII’s to enter long and exit shorts in Index futures. How to Trade Successfully with Small Trading Account
- As discussed in Yesterday Analysis Breakout only on close of 8372 for target of 8488/8548/8700. Bears will get active only on close below 8210. Nifty did 8527 today now the range of 8548-8577 is a crucial range, where bulls can book profit near gann horizontal line as shown in below chart. Nifty did an exact high of 8550, near gann horizontal line saw first pullback of 56 points after the rise of 263 points,Bulls should protect 8490 else we can see a quick correction till 8410-8400. Bullish on close above 8577 for target of 8650 Bank Nifty reacts from Supply zone of 18750,EOD Analysis
- Nifty July Future Open Interest Volume is at 2.14 core with addition of 1.7 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 2.65 Lakh core with total contract traded at 1 lakh , PCR @1.01, Trader’s Resolutions for the New Financial Year 2016-17
- 8600 CE is having Highest OI at 51.5 lakh, resistance at 8600 .8400/8700 CE added 11 lakh so bears forming resistance at higher levels 8550-8600 zone .FII bought 10.3 K CE longs and 12.3 K CE were shorted by them .Retail bought 63.4 K CE contracts and 39 K CE were shorted by them.
- 8400 PE OI@51.3 lakhs having the highest OI strong support at 8400. 8200-8600 PE added 3.1 Lakh in OI so bulls making strong base near 8300-8400 zone .FII bought 12.7 K PE longs and 7.6 K PE were shorted by them .Retail bought 16.2 K PE contracts and 11.2 K PE were shorted by them.
- FII’s bought 290 cores in Equity and DII’s sold 654 cores in cash segment.INR closed at 67.05
- Nifty Futures Trend Deciding level is 8520 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8407 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 8551 Tgt 8578,8605 and 8620 (Nifty Spot Levels)
Sell below 8490 Tgt 8465,8440 and 8415 (Nifty Spot Levels)
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