- FII’s sold 0.1 K contract of Index Future worth 31 cores ,1.5 K Long contract were added by FII’s and 1.6 K short contracts were added by FII’s. Net Open Interest increased by 3.1 K contract, so fall in market was used by FII’s to enter long and enter shorts in Index futures. The difference between winning and losing in trading
- As discussed last Analysis Nifty close above 8756 which is positive sign holding 8756 nifty will approach the gann line of resistance at 8800. Close above 8800 can see fast move towards 8840/8888. There is lot of supply in this zone, Sustaining below 8750 for an hour can quickly push index down to 8690/8656. High made today was 8806 and closed below 8756 suggesting bears have upper hand now which can push index to 8690/8656 range. Any hourly close above 8756 shorts should cut out. BUlls will now get active only on close above 8800. Yesterday was a great learning day when trader should show his flexibility, Nifty closed above 8756 suggesting traders carrying short should cut and as soon as it moved below 8756 reentering again and getting rewarded for their flexiblity. As we have weekly closing today bulls would like to have close above 8756 and bears below 8656. Below 8656 we can breach the low of 8555 formed on 30 Sep. Bank Nifty corrects 500 points from Gann Resistance zone,EOD Analysis
- Nifty Oct Future Open Interest Volume is at 2.20 core with liquidation of 2 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @8777, closed below it,trading around rollover price suggesting big move round the corner.
- Total Future & Option trading volume was at 5.51 Lakh core with total contract traded at 1.3 lakh , PCR @0.86 , Trader’s Resolutions for the New Financial Year 2016-17
- 9000 CE is having Highest OI at 60.9 lakh, resistance at 9000 .8500/9000 CE added 9.2 lakh so bears added aggressively in range of 8800-8900 CE .FII sold 4.7 K CE longs and 2.2 K CE were shorted by them .Retail sold 73 K CE contracts and 51.8 K shorted CE were covered by them.
- 8600 PE OI@42.7 lakhs having the highest OI strong support at 8600. 8500-9000 PE added 12.9 Lakh in OI so bulls added in range of 8600-8700 .FII bought 7.6 K PE longs and 1.7 K PE were shorted by them .Retail sold 69.6 K PE contracts and 47.5 K shorted PE were covered by them.
- FII’s bought 353 cores in Equity and DII’s sold 124 cores in cash segment.INR closed at 66.51
- Nifty Futures Trend Deciding level is 8762 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8735 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 8740 Tgt 8765,8800 and 8821 (Nifty Spot Levels)
Sell below 8684 Tgt 8670,8656 and 8630 (Nifty Spot Levels)
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