1. FII sold 31704 Contracts of Index Future,worth 741.39 cores with net OI decreasing by 36914 contracts.
2. As Nifty Future was up by 38 points and OI has decreased by 36914,so profit booking happened on longs carried by FII in August Series.
3. NS closed at 5259 after making the low of 5238 ,Bears lost the opportunity of gap filling as bulls took nifty up from 50 SMA.Lower lows and lower highs are getting formed on Nifty which is sign of concern. We need to break and close above 5350 for another round of rally.
4. Resistance for Nifty has come up to 5295 and 5315 which needs to be watched closely ,Support now exists at 5238 and 5220 .Trend is Sell on Rise till 5334 is not broken on closing basis.
5. Nifty September OI is at 1.95 cores with an unwinding of 9 Lakh in OI,so longs which were rollovered were squared off. We did not see any huge shorting interest by FII,DII and HNI. Rollover range for September Series comes at 5400-5290. We have closed at 5291 above lower end so we can move to higher end of range now.
6. Total F&O turnover was highest ever to 0.88 lakh Cores with total contract traded at 2.66 lakh.
7. 5600 CE is having highest OI of 49 lakhs followed by 5400. 5000-5600 CE added 44 lakhs in OI
8. 5200 PE added 2 lakh in OI and having the highest OI at 58 lakhs so 5200 is firm base at the starting of September series,5000-5600 PE added 22 lakhs in OI.
9.FII sold 211 cores and DII sold 172 cores in cash segment,Both FII and DII were sellers in cash segment..INR closed at 55.45 Live INR rate @ http://inrliverate.blogspot.in/).FII were again sellers of 271 cores in Stock futures.
10. Nifty Futures Trend Deciding level is 5264, Trend Changer at 5306 NF. (Above this Level Bulls will rule Nifty/Below this levels Bears have upper hand).
Buy above 5267 Tgt 5295,5315 and 5345
Sell below 5238 Tgt 5220,5200 and 5166 (Nifty Spot Levels)
Disclaimer: These are my personal views and trade taken on these observation should be traded with strict Sl
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