- FII’s sold 63.3 K contract of Index Future worth 1391 cores ,39.4 K Long contract were liquidated by FII’s and 23.6 K short contracts were added by FII’s. Net Open Interest decreased by 15 K contract, so today’s rise was used by FII’s to enter shorts and exit longs in index futures.Why do smart traders do dumb things?
- Nifty formed inside day pattern today suggesting pause in current trend. Bullish only on close above 8398, Break of 8300 can see quick move towards 8200/8150 in extreme short term.Nifty is also near its weekly trendline support, next 3 days price action is important to see if nifty breaks below it or bounces back as it did last 2 times.
- Nifty July Future Open Interest Volume is at 1.14core with liquidation of 33 Lakh, with decrease in CoC suggesting long positions got closed today.51% rollover has taken place in NF with Aug NF rollover price coming @8511
- Total Future & Option trading volume was at 4.5 core with total contract traded at 4.5 lakh. PCR @0.79
- 8500 CE OI at 57.3 lakh , wall of resistance @ 8500 .8300/8500 CE liquidated huge 22 lakh so yesterday addition got nullified today with major liquidation coming in 8400 CE. FII bought 29.8 K CE longs and 25 K shorted CE were covered by them.Retail sold 85 K CE contracts.Retailers selling CE and market going up.
- 8300 PE OI@ 52.2 lakhs strong base @ 8300. 8400/8700 PE liquidated 19.5 lakh so major liquidation seen in 8400/8500 PE . FII bought 14.2 K PE longs and 24.3 K shorted PE were covered by them.Retail bought 53.8 K PE contracts.
- FII’s sold 186 cores in Equity and DII’s bought 642 cores in cash segment.INR closed at 63.9
- Nifty Futures Trend Deciding level is 8360 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8466 and BNF Trend Deciding Level 18333 (For Intraday Traders) BNF Trend Changer Level (Positional Traders) 18658 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 8391 Tgt 8408,8422 and 8434 (Nifty Spot Levels)
Sell below 8360 Tgt 8345,8321 and 8305 (Nifty Spot Levels)
Upper End of Expiry:8444
Lower End of Expiry:8305
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Nice article
Dear Bramesh,
what idea in nifty tomorrow ?
my guess for september series the lower band would be 8200 higher 8720
sorry correction I meant august series
August Rollover NF is 8511 or 8411?
8511
Sir,
The trend changing level for nifty future positional is July series rate or Aug.
Regards
K Mohan.
July Series
buy 18500 call july and buy 18000 put july for expiry.like wise buy 8400 call and buy 8100 put july for expiry.my assumption is sensex will come down to 27180 and will rebound sharply.
Sir,
Retailers bought CE yday and sold today.. So they would have booked profits.
RBI event rally still pending. May start torow or day after.
Thanks bramesh ji. What is the price band under which u feel expiry may occur?
Expiry range is mentioned