- FII’s bought 12.7 K contract of Index Future worth 857 cores , 14.1 K Long contract were added by FII’s and 1.3 K long contracts were added by FII’s. Net Open Interest increased by 15.5 K contract, so rise in market was used by FII’s to enter long and enter short in Index futures. The Bitter Truth About Trading
- As discussed in last analysis Nifty continue to trade around the gann angles as shown below and also formed the lowest range of last 2.5 years, market is in wait and watch mode before the outcome of fed event. Bullish above 9130 for a move towards 9212/9300. Bearish below 8975 for a move towards 8900/8850. Nifty finally closed above 9130 and gann angle as shown in below chart and range formed today 29 points in again the lowest range in past 2.5 years suggesting we should see fast follow upmove towards 9212/9268. Bearish only on close below 9000. Weekly close above 9130 will be good for bulls. Bank Nifty continue to trade rangebound, EOD Analysis
- Nifty March Future Open Interest Volume is at 2.60 core with addition of 7.6 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @8925 closed above it before election results and rewarded big time.
- Total Future & Option trading volume at 6.53 Lakh core with total contract traded at 0.99 lakh , PCR @0.89
- 9200 CE is having Highest OI at 54.1 lakh, resistance at 9200 followed by 9500 .8800-9500 CE liquidated 20.7 Lakh in OI so bears were caught off guard and ran for cover. So watch out for 9300 CE on Tuesday .FII bought 16.1 K CE longs and 9.3 K shorted CE were covered by them .Retail sold 116 K CE contracts and 51.4 K shorted CE were covered by them.
- 8800 PE OI@59 lakhs having the highest OI strong support at 8900 followed by 8800. 8800-9500 PE added 27 Lakh in OI so bulls added in 8900/9000/9100 PE. FII sold 3.3 K PE and 5.6 K PE were shorted by them .Retail sold 14.6 K PE contracts and 46.8 K shorted PE were covered by them.
- FII’s bought 1360 cores in Equity and DII’s sold 88 cores in cash segment.INR closed at 65.41
- Nifty Futures Trend Deciding level is 9166 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8987. TC was in Long side before the Election Results rewarded the traders How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 9165 Tgt 9180,9200 and 9212 (Nifty Spot Levels)
Sell below 9132 Tgt 9117,9100 and 9080 (Nifty Spot Levels)
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