- FII’s bought 6.7 K contract of Index Future worth 220 cores, 10 K Long contract were squared off by FII’s and 16.8 K short contracts were squared off by FII’s. Net Open Interest decreased by 26 K contract ,so FII’s squared off both shorts and long in Index Futures.
- Nifty corrected for fourth day in a row but momentum is missing on downside, Nifty fall is lead by banks and bank nifty is near an important AF support as seen in bottom chart and nifty is not able to break the red line of gann box convincingly keeping both bulls and bears in state of confusion. Intraday volatility is also huge whipsawing traders on both side. As i always say in my article when unable to understand market moves better to stay out and sit on sidelines and protect your trading capital.
- Nifty Future Feb Open Interest Volume is at 2.52 core with liquidation of 1.15 lakhs so bears covered shorts today in volatile session today.
- Total Future & Option trading volume was at 1.72 core with total contract traded at 3.9 lakh. PCR @0.88,PCR has come to its lower end suggesting relief rally can be seen in next 2 days if 8720 is held.
- 9000 CE OI at 53.7 lakh so wall of resistance @ 9000 .8800/8900 CE added 6.4 lakhs so bears have started shorted 8800/8900 CE tune of 14 lakh, and creating resistance at higher levels but writers will have test in next 2 days. FII sold 4.1 K CE and 9.7 K CE were shorted by them.
- 8500 PE OI@ 29.8 lakhs so strong base @ 8500. 8700/8800 PE added 14 lakh in OI so bulls are still making ground , next 2 days will be interesting as we will see trending move and one party will have to cover the positions.This kind of market are good for option writers. FII bought 31 K PE and 1.3 K PE were shorted by them.
- FII’s sold 83 cores in Equity and DII sold 72 cores in cash segment.INR closed at 61.73.
- Nifty Futures Trend Deciding level is 8804 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8872 and BNF Trend Deciding Level 19376 (For Intraday Traders) BNF Trend Changer Level (Positional Traders) 19987.How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 8740 Tgt 8776,8792 and 8828 (Nifty Spot Levels)
Sell below 8704 Tgt 8688,8652 and 8600 (Nifty Spot Levels)