- FII’s sold 15.3 K contract of Index Future worth 897 cores ,6.2 K Long contract were liquidated by FII’s and 9 K short contracts were added by FII’s. Net Open Interest increased by 2.8 K contract, so rise in Nifty market was used by FII’s to exit long and enter shorts in Index futures.Safest place for a ship is the harbour but it was never built to stay there….
- As we have been discussing Support is near 7546-7519 range and resistance around 7582/7684 so market can swing in both the levels for sometime before making the next major move. Nifty made low of 7526 and High of 7570 suggesting trading in small range, as this is major demand zone so bulls are fighting hard to hold 7546 on closing basis. Bank Nifty continue to struggles in Gann Arc,EOD Analysis
- Nifty April Future Open Interest Volume is at 1.56 core with liquidation of 0.43 Lakh with increase in cost of carry suggesting short position were closed today, NF Rollover cost @7740, broken it.
- Total Future & Option trading volume was at 1.69 Lakh core with total contract traded at 1.2 lakh , PCR @0.95 also no increase in vix was seen in this fall, Trader’s Resolutions for the New Financial Year 2016-17
- 8000 CE is having Highest OI at 84 lakh, resistance at 8000 .7500/8000 CE added 7.2 lakh so bears continue to pound on bulls added in range of 7700/7800 .FII sold 794 CE longs and 4.1 K CE were shorted by them .Retail bought 24.2 K CE contracts and 7.4 K CE were shorted by them.
- 7500 PE OI@47.3 lakhs having the highest OI strong support at 7500. 7000-7600 PE added 0.8 Lakh in OI so strong base near 7500 will bulls will be able to hold as we have seen liquidation in 7500 first time in series .FII bought 12.3 K PE longs and 3.4 K PE were shorted by them .Retail sold 2 K PE contracts and 686 K PE were shorted by them.
- FII’s bought 180 cores in Equity and DII’s sold 159 cores in cash segment.INR closed at 66.46
- Nifty Futures Trend Deciding level is 7576 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 7683 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 7575 Tgt 7595,7616 and 7640 (Nifty Spot Levels)
Sell below 7530 Tgt 7510,7490 and 7465 (Nifty Spot Levels)
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