- FII’s sold 20.9 K contract of Index Future worth 822 cores, 12.3 K Long contract were squared off and 8.6 K short contracts were added by FII’s. Net Open Interest decreased by 3.6 K contract , so FII liquidated long in index futures and added short in index futures.
- Nifty dipped below the 50% gann box line, but recovered immediately and closed near the important resistance zone of 7904-7924 range. On Downside 7860/7850 range will act as strong support. Nifty still has not closed above its 50 DMA so bears have upperhand in short term. Inflation data and Reliance results both were favorable suggesting bulls will have upperhand in opening but will they be able to survive depends on price action in range of 7920/7924.
- Nifty Future October Open Interest Volume is at 1.48 core with liquidation of 6 lakh in OI with decrease in CoC suggesting short liquidation.
- Total Future & Option trading volume was at 1.89 lakh core with total contract traded at 2.1 lakh. PCR @0.83
- 8200 CE OI at 59.6 lakh suggesting wall of resistance , 8000 CE added 2.3 lakh suggesting 8000 bears are losing ground but not completely out , 7900 CE added 1.5 lakh so 7900 will become fighting point for bulls and bears. FII’s bought 9.7 K CE longs and 5.5 K CE were shorted by them.
- 7800 PE OI@ 66.9 lakhs so strong base @ 7800 . 7900 PE OI@45 lakh with addition of 1.7 lakh so 7900 PE will become fighting point for bulls and bears , FII’s bought 17.8 K contract PE longs and 4.9 K PE were shorted by them.
- FII’s sold 671 cores in Equity and DII bought 566 cores in cash segment.INR closed at 61.04.
- Nifty Futures Trend Deciding level is 7870 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 7956 and BNF Trend Changer Level (Positional Traders) 15517.How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 7901 Tgt 7924,7965 and 8030(Nifty Spot Levels)
Sell below 7855 Tgt 7820,7796 and 7755 (Nifty Spot Levels)