- FII’s sold 5 K contract of Index Future worth 326 cores , 1.3 K Long contract were liquidated by FII’s and 3.7 K short contracts were added by FII’s. Net Open Interest increased by 2.4 K contract, so rise in market was used by FII’s to exit long and enter short in Index futures. Key to mastery in Trading
- As discussed in last analysis From 1 gann angle to another gann angel, we are technically trapped in the range between 2 gann angles, Buy Support Sell resistance will be the best strategy till we see breakdown below 8850 or breakout above 8989. Low made was 8860 so we are still stuck in range buy low and sell higher trade continue till we see breakout or breakdown Nifty made high of 8967 so from low of 8860 we were able to capture 100 points so we continue to trade between 2 gann angles as shown below. Breakout above 8996 and breakdown below 8850 in between buy low sell high should be trading strategy or avoid trading if you do not like choppy moves. Bank Nifty does 1 target of ABCD pattern,EOD Analysis
- Nifty March Future Open Interest Volume is at 2.16 core with addition of .84 Lakh with decrease in cost of carry suggesting short position were added today, NF Rollover cost @8925 closed below it.
- Total Future & Option trading volume at 2.89 Lakh core with total contract traded at 0.92 lakh , PCR @0.85
- 9000 CE is having Highest OI at 51.6 lakh, resistance at 9000 followed by 8900 .8500-9000 CE liquidated 9.6 Lakh in OI so bears covered in 8800/8700 CE .FII bought 960 CE longs and 7.8 K CE were shorted by them .Retail bought 35 K CE contracts and 30 K CE were shorted by them.
- 8800 PE OI@42 lakhs having the highest OI strong support at 8800 followed by 8700. 8500-9000 PE added 5.1 Lakh in OI so bulls added in 8700/8800 PE. FII bought 1.3 K PE and 5.5 K PE were shorted by them .Retail bought 50 K PE contracts and 5.5 K PE were shorted by them.
- FII’s bought 564 cores in Equity and DII’s sold 481 cores in cash segment.INR closed at 66.71
- Nifty Futures Trend Deciding level is 8965 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8945 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 8965 Tgt 8982,9001 and 9036 (Nifty Spot Levels)
Sell below 8945 Tgt 8930,8905 and 8888 (Nifty Spot Levels)
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