- FII’s sold 16 K contract of Index Future worth 1032 cores ,17.8 K Long contract were liquidated by FII’s and 1.7 K short contracts were liquidated by FII’s. Net Open Interest decreased by 19.6 K contract, so fall in market was used by FII’s to exit long and exit shorts in Index futures. Why Trading is a mental game
- As discussed last Analysis On Downside strong support in the range of 8448-8450. Nifty made low of 8549.80 and range of 8500-8520 was protected, now bulls need a close above 8600 for a fast move till 8642/8663, Close above 8663 will give momentum to bulls for a fast move 8756/8800 Bear will get active below 8518 for target 8476/8448 . Nifty closed at 8520, border line of bulls and bears. Below 8520 we can see move till 8476/8448 and holding 8520 another attempt to break wall of resistance at 8600 Bank Nifty continue to trade above 19000, EOD Analysis
- Nifty Oct Future Open Interest Volume is at 1.87 core with liquidation of 4.8 Lakh with decrease in cost of carry suggesting long position were closed today, NF Rollover cost @8777,corrected 250 points from that
- Total Future & Option trading volume was at 3.63 Lakh core with total contract traded at 1.4 lakh , PCR @0.86 , Trader’s Resolutions for the New Financial Year 2016-17
- 9000 CE is having Highest OI at 68.9 lakh, resistance at 9000 .8500/9000 CE added 41.9 lakh so bears added aggressively in range of 8600-8700 CE .FII bought 12.8 K CE longs and 6.8 K CE were shorted by them .Retail bought 71.5 K CE contracts and 49.1 K CE were shorted by them.
- 8500 PE OI@49.1 lakhs having the highest OI strong support at 8500. 8500-9000 PE liquidated 16 Lakh in OI so bulls running for cover in 8500-8600 PE.FII sold 4.9 K PE longs and 5.3 K PE were shorted by them .Retail bought 20.3 K PE contracts and 18.5 K PE were shorted by them.
- FII’s sold 456 cores in Equity and DII’s bought 235 cores in cash segment.INR closed at 66.88
- Nifty Futures Trend Deciding level is 8547 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8693 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 8550 Tgt 8580,8600 and 8630 (Nifty Spot Levels)
Sell below 8505 Tgt 8480,8460 and 8435 (Nifty Spot Levels)
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