- FII’s sold 2.48 K contract of Index Future worth 159 cores ,1.6 K Long contract were liquidated by FII’s and 0.8 K short contracts were added by FII’s. Net Open Interest decreased by 0.7 K contract, so rise in market was used by FII’s to exit long and enter shorts in Index futures. Where learning ends, beginning of practice happens and that is transformation !!
- As discussed last Analysis Nifty made a low of 8555 forming double bottom and also protecting 8518 on Quarterly closing suggesting bulls have not give up yet. Till 8760 is not broken on upside bears have all chance of coming back and correct till 8444 levels, Signal of strength will come once we close above the gann angle line above 8656 and close above 8760 can see nifty moving back towards 8900 zone . Nifty opened above 8656 saw a quick rally towards 8745, but still not above to close above 8760, Bulls need a close above 8760 for next round of upmove else this rally will get sold into, as seen in below gann change we are near supply zone. Above 8756 another move towards 8888/8968, Unable to close above it 8700/8650 on cards. Bank Nifty October Series Outlook
- Nifty Oct Future Open Interest Volume is at 2.19 core with liquidation of 8.3 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @8777, closed above it.
- Total Future & Option trading volume was at 2.80 Lakh core with total contract traded at 1.6 lakh , PCR @1.01 , Trader’s Resolutions for the New Financial Year 2016-17
- 9000 CE is having Highest OI at 54 lakh, resistance at 9000 .8500/9000 CE added 9.9 lakh so bears added aggressively in range of 8800-8900 CE .FII bought 9.3 K CE longs and 15.9 K CE were shorted by them .Retail bought 14.9 K CE contracts and 33.2 K CE were shorted by them.
- 8600 PE OI@41.2 lakhs having the highest OI strong support at 8600. 8500-9000 PE added 24 Lakh in OI so bulls added in range of 8500-8600 .FII bought 1.7 K PE longs and 0.6 K shorted PE were covered by them .Retail bought 64K PE contracts and 36.5 K PE were shorted by them.
- FII’s bought 34 cores in Equity and DII’s bought 198 cores in cash segment.INR closed at 66.57
- Nifty Futures Trend Deciding level is 8736 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8691 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 8756 Tgt 8777,8815 and 8888 (Nifty Spot Levels)
Sell below 8730 Tgt 8706,8670 and 8620 (Nifty Spot Levels)
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