- FII’s sold 9.1 K contract of Index Future worth 591 cores ,7 K Long contract were liquidated by FII’s and 2 K short contracts were added by FII’s. Net Open Interest decreased by 5 K contract, so rise in market was used by FII’s to exit long and enter shorts in Index futures. Avoiding Impulsive Trading
- As discussed last Analysis Below 8951/8910 bears had upper hand as we have discussed before in our analysis, High made yesterday was 8939 nifty was not able to go above 8951 and broke 8910 also, suggesting bears have upperhand and we can see all the was till 8820/8760. 8756-8760 if and when it comes is very important level, if held nifty can again make one more attempt towards 9000. Bears did 8700 below 8910, Now we are near very crucial gann line support as shown in below chart, close below Monday low of 8700 can see quick fall till 8656-8580 range. Bulls will get active only above 8760 for a move towards 8968/9000 again. Holding 8700 can lead to price and time square as per gann which can lead to fast rise. 8700 should be watched closely for the coming 3 days. Nifty made High of 8751 close well above 8700 but unable to close above 8760 and holding the gann support line as shown above. Bulls need close above 8760 for target of 8809/8862. Bears will get active on close below 8700 for target of 8656/8580. Bank Nifty holds 19730 for 3 days ,EOD Analysis
- Nifty Sep Future Open Interest Volume is at 3.20 core with liquidation of 5.7 Lakh with decrease in cost of carry suggesting long position were added today, NF Rollover cost @8686, closed above it rallied 250 points.
- Total Future & Option trading volume was at 5 Lakh core with total contract traded at 1 lakh , PCR @0.92 , Trader’s Resolutions for the New Financial Year 2016-17
- 9000 CE is having Highest OI at 58 lakh, resistance at 9000 .8500/9000 CE added 8.3 lakh so finally bears added aggressively in 8900 .FII bought 3.6 K CE longs and 1.7 K CE were shorted by them .Retail sold 80 K CE contracts and 51 K shorted CE were covered by them.
- 8500 PE OI@59.6 lakhs having the highest OI strong support at 8500. 8300-8800 PE added 5 Lakh in OI so bulls strong base of 8700-8750 zone is still protected .FII bought 1.5 K PE longs and 9.9 K PE were shorted by them .Retail sold 23 K PE contracts and 14.9 K shorted PE were covered by them.
- FII’s bought 345 cores in Equity and DII’s sold 456 cores in cash segment.INR closed at 67.02
- Nifty Futures Trend Deciding level is 8755 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8784 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 8770 Tgt 8800,8820 and 8860 (Nifty Spot Levels)
Sell below 8720 Tgt 8700,8670 and 8648 (Nifty Spot Levels)
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