- FII’s sold 1.2 K contract of Index Future worth 106 cores ,2.7 K Long contract were added by FII’s and 4 K short contracts were added by FII’s. Net Open Interest increased by 6.8 K contract, so fall in market was used by FII’s to exit 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 8682 so bulls need to wait for break of 8711-8723 range for further upmove. Bears will get active below 8484. Its been 17 days we have traded in range of 204 points 8517-8721, suggesting market is seeing time correction before the next move which could possibly be seen in next 2 weeks. Bulls above 8723 can see move till 8851/8900, bears below 8484 can see move till 8400/8350. Bank Nifty close above 19000,EOD Analysis
- Nifty Aug Future Open Interest Volume is at 2.48 core with addition of 2 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @8650, closed above it.
- Total Future & Option trading volume was at 3.25 Lakh core with total contract traded at 1.4 lakh , PCR @0.98, Trader’s Resolutions for the New Financial Year 2016-17
- 8800 CE is having Highest OI at 58.7 lakh, resistance at 8800 .8500/9000 CE added 16.7 lakh so resistance formation in 8800-8900 zone again .FII sold 1.4 K CE longs and 2.4 K shorted CE were covered by them .Retail bought 47.8 K CE contracts and 24 K CE were shorted by them.
- 8500 PE OI@56.3 lakhs having the highest OI strong support at 8500. 8300-8800 PE added 1.9 Lakh in OI so bulls making strong base near 8550-8600 zone .FII bought 8.8 K PE longs and 1.2 K shorted PE were covered by them .Retail bought 21.8 K PE contracts and 27.4 K PE were shorted by them.
- FII’s bought 684 cores in Equity and DII’s sold 109 cores in cash segment.INR closed at 66.76
- Nifty Futures Trend Deciding level is 8646 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8662 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 8650 Tgt 8680,8701 and 8723 (Nifty Spot Levels)
Sell below 8600 Tgt 8580,8560 and 8535 (Nifty Spot Levels)
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