- FII’s sold 30.6 K contract of Index Future worth 563 cores ,34.5 K Long contract were squared off by FII’s and 3.8 K short contracts were squared off by FII’s. Net Open Interest decreased by 38.4 K contract, so todays rise was used by FII’s to exit majority longs and partial shorts in index futures. How to survive as a full time trader
- We have been advocating the range of 7930-7950 being the demand zone for Nifty from 11 June Nifty made the following lows 7958,7940,7944 and 7946 also we have discussed in Weekly Analysis from 14 June time cycle has changed to neutral to Bullish, market obliged with 2 green close from past 2 days. Also Nifty has completed 2 crucial harmonic pattern ABCD and BAT pattern both are bullish if 7930 is held. Traders who bought should have been rewarded, As per gunner next zone of resistance comes @8088-8105, As per gann angles above 8100 we can move towards 8189/8211 odd levels. and pyrapoint, also suggests 8195 on cards. So if todays low held we can move towards the above mentioned target in next 3 trading session.
- Nifty June Future Open Interest Volume is at 1.55 core with liquidation of 3.4 Lakh, with increase in CoC suggesting longs have entered in system
- Total Future & Option trading volume was at 2.10 core with total contract traded at 4.4 lakh. PCR @0.83
- 8500 CE OI at 47.9 lakh , wall of resistance @ 8500 .8200 CE added 3.9 lakh ,so bears added majority in 8200 and are still holding 1.16 core in open position. FII bought 19.5 K CE longs and 17.4 K CE were shorted by them.Retail sold 0.17 lakh CE contracts.
- 8000 PE OI@ 52.1 lakhs so strong base @ 8000. 8100/8500 PE liquidated 2.5 lakh so bulls are still not adding to their positions, Hopefully after the US fed meeting . FII bought 12.8 K PE longs and 6.8 K shorted PE were covered by them.Retail shorted 0.20 lakh PE contracts.
- FII’s sold 521 cores in Equity and DII’s bought 644 cores in cash segment.INR closed at 64.26, lowest close in 21 months.
- Nifty Futures Trend Deciding level is 7996 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8151 and BNF Trend Deciding Level 17408 (For Intraday Traders) BNF Trend Changer Level (Positional Traders) 17820 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 8062 Tgt 8088,8130 and 8152 (Nifty Spot Levels)
Sell below 8015 Tgt 7980,7952 and 7911 (Nifty Spot Levels)