- FII’s sold 0.8 K contract of Index Future worth 45 cores ,6.8 K Long contract were added by FII’s and 5.9 K short contracts were added by FII’s. Net Open Interest increased by 12.7 K contract, so rise 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. 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 . High made today was 8690 so bulls need to wait for break of 8711-8723 range for further upmove. Bulls above 8723 can see move till 8851/8900, bears below 8484 can see move till 8400/8350. Bank nifty fire above 19158,EOD Analysis
- Nifty Aug Future Open Interest Volume is at 2.38 core with liquidation of 7.3 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 4.88 Lakh core with total contract traded at 1.2 lakh , PCR @1.14, Trader’s Resolutions for the New Financial Year 2016-17
- 8800 CE is having Highest OI at 64.3 lakh, resistance at 8800 .8500/9000 CE liquidated 30 lakh so resistance formation in 8800-8900 zone again under pressure with huge liquidation in CE .FII sold 13.6 K CE longs and 0.6 K CE were shorted by them .Retail sold 71.5 K CE contracts and 38.8 K shorted CE were covered by them.
- 8500 PE OI@53.3 lakhs having the highest OI strong support at 8500. 8300-8800 PE added 12.8 Lakh in OI so bulls making strong base near 8550-8600 zone .FII bought 13.3 K PE longs and 6.8 K PE were shorted by them .Retail sold 8.5 K PE contracts and 15.7 K shorted PE were covered by them.
- FII’s bought 162.17 cores in Equity and DII’s sold 14.42 cores in cash segment.INR closed at 66.81
- Nifty Futures Trend Deciding level is 8689 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8663 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 8695 Tgt 8715,8740 and 8777 (Nifty Spot Levels)
Sell below 8660 Tgt 8650,8625 and 8603 (Nifty Spot Levels)
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