- FII’s sold 7.2 K contract of Index Future worth 456 cores ,7.6 K Long contract were added by FII’s and 14.9 K short contracts were added by FII’s. Net Open Interest increased by 22.6 K contract, so fall in market was used by FII’s to enter long and enter shorts in Index futures. Trading Psychology : Walking The Plank
- 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. Its been 21 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 8684 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. As per gann analysis 23-24 Aug are important trend change date so we might see end of time correction near that time. Bank Nifty almost does 19500 target, EOD Analysis
- Nifty Aug Future Open Interest Volume is at 1.81 core with liquidation of 50 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 4.09 Lakh core with total contract traded at 1.97 lakh , PCR @0.98 , Trader’s Resolutions for the New Financial Year 2016-17
- 8800 CE is having Highest OI at 76 lakh, resistance at 8800 .8500/9000 CE added 39.4 lakh so resistance formation in 8800-8900 zone .FII bought 5.9 K CE longs and 2 K shorted CE were covered by them .Retail bought 81.7 K CE contracts and 68.1 K CE were shorted by them.
- 8500 PE OI@59.2 lakhs having the highest OI strong support at 8500. 8300-8800 PE liquidated 20 Lakh in OI so bulls making strong base near 8550-8500 zone .FII sold 3.9 K PE longs and 4.2 K PE were shorted by them .Retail sold 9.4 K PE contracts and 2.2 K shorted PE were covered by them.
- FII’s sold 300 cores in Equity and DII’s bought 52.5 cores in cash segment.INR closed at 67.18
- Nifty Futures Trend Deciding level is 8642 (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 8675 Tgt 8695,8719 and 8740 (Nifty Spot Levels)
Sell below 8640 Tgt 8620,8595 and 8577 (Nifty Spot Levels)
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