- FII’s sold 2.1 K contract of Index Future worth 125 cores ,1.6 K Long contract were added by FII’s and 3.7 K short contracts were added by FII’s. Net Open Interest increased by 5.4 K contract, so fall in market was used by FII’s to enter long and enter shorts in Index futures. Are you suffering from “Need to Be In a Trade” Syndrome
- As discussed in Yesterday Analysis Now Bulls need to close above the range of 8711 for next move towards 8779-8800-8851. Bears will get active on close below 8484 only. High made today was 8667 so bulls need to wait for break of 8711-8723 range for further upmove. Nifty formed inside day candlestick today,suggesting impulsive move can be seen in next 2 trading session. Its been 18 days we have traded in range of 204 points 8517-8721, suggesting market is seeing time correction frustrating traders and hitting SL, traders who survive this phase by applying risk and money management are rewarded handsomely in the next move . Bulls above 8723 can see move till 8851/8900, bears below 8484 can see move till 8400/8350. Bank Nifty continue to close above 19000,EOD Analysis
- Nifty Aug Future Open Interest Volume is at 2.45 core with liquidation of 2.5 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @8650, closed below it, trading near rollover range suggesting big move round the corner.
- Total Future & Option trading volume was at 3.50 Lakh core with total contract traded at 1.2 lakh , PCR @1.05, Trader’s Resolutions for the New Financial Year 2016-17
- 8800 CE is having Highest OI at 66 lakh, resistance at 8800 .8500/9000 CE added 20.3 lakh so resistance formation in 8800-8900 zone again .FII sold 1.1 K CE longs and 5.7 K shorted CE were covered by them .Retail bought 42.7 K CE contracts and 34.7 K CE were shorted by them.
- 8500 PE OI@54.2 lakhs having the highest OI strong support at 8500. 8300-8800 PE liquidated 6.7 Lakh in OI so bulls making strong base near 8550-8600 zone .FII bought 12.2 K PE longs and 3.6 K shorted PE were covered by them .Retail bought 17.7 K PE contracts and 14.9 K PE were shorted by them.
- FII’s bought 0.05 cores in Equity and DII’s sold 89 cores in cash segment.INR closed at 66.76
- Nifty Futures Trend Deciding level is 8642 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8661 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 8660 Tgt 8695,8723 and 8750 (Nifty Spot Levels)
Sell below 8625 Tgt 8600,8577 and 8550 (Nifty Spot Levels)
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