- FII’s sold 7.1 K contract of Index Future worth 378 cores ,3.8 K Long contract were added by FII’s and 10.9 K short contracts were added by FII’s. Net Open Interest increased by 14.7 K contract, so rise in market was used by FII’s to enter long and enter shorts in Index futures. Trading Wisdom From Legend Bruce Kovner
- As discussed in last analysis Closing above 7151 we will head towards 7238. Nifty made high of 7257 and closed just below 7238. Any close above 7238 can see market moving towards 7325/7400. Range of 7270-7290 is very crucial so this needs to be watched closely in next 2 days, Time Analysis suggests big move is round the corner so be prepared for it. Please do not ask me to tell direction as I do not want my trading to become biased, We have both buy and sell levels as mentioned below and which side trade triggered rise the trend with proper risk management. Nifty needs to close above the gann arc as shown below for bulls to take total control. Bank Nifty Will it close above gann arc,EOD Analysis
- Nifty February Future Open Interest Volume is at 1.86 core with liquidation of 19 Lakh with increase in cost of carry suggesting short position were closed today, Nifty Future closed below the Rollover cost @7419 and gave 500 points profits till now
- 7400 CE OI at 70 lakh , wall of resistance @ 7400 .7250/7450 PE added 29.5 lakh so bears added in 7250/7400 .FII bought 3.4 K CE longs and 1.6 K CE were shorted by them .Retail bought 36.1 K CE contracts and 22.5 K shorted CE were covered by them. FII going bullish and retailers bearish by buying PE.
- 7200 PE OI@60 lakhs having the highest OI strong support at 7200 . 7250/7450 PE added 8.1lakh so bulls added in 7250/7400, so fight is on for 7300.FII sold 6.9 K PE longs and 6 K shorted PE were covered by them .Retail bought 21.9 K PE contracts and 16.5 K PE were shorted by them.
- FII’s sold 656 cores in Equity and DII’s bought 598 cores in cash segment.INR closed at 68.60
Buy above 7260 Tgt 7280,7310 and 7340 (Nifty Spot Levels)
Sell below 7220 Tgt 7205,7180 and 7160 (Nifty Spot Levels)
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