- FII’s sold 4.3 K contract of Index Future worth 254 cores ,3.5 K Long contract were added by FII’s and 7.8 K short contracts were added by FII’s. Net Open Interest increased by 11.4 K contract, so rise in market was used by FII’s to enter long and enter shorts in Index futures. Bitter Truth about Trading
- As discussed in Yesterday Analysis Now Bulls need to close above the range of 8711 for next move towards 8779-8800-8851. Bears will get active on close below 8484 only. Its been 22 days we have traded in range of 204 points 8517-8721, suggesting market is seeing time correction frustrating traders and hitting SL, traders who survive this phase by applying risk and money management are rewarded handsomely in the next move .Low made today was 8580 near our important gann level of 8577 which we have discussed many time in our past analysis and also formed hammer candlestick near gann trendline as shown below. High made today was 8661 so bulls need to wait for break of 8711-8723 range for further upmove, Low was 8620 which was again near the rising gann trendline. Bulls above 8723 can see move till 8851/8900, bears below 8577 can see move till 8520/8484. Nifty is down just 16 points from last expiry close of 8666. Bank Nifty ready for impulsive move, EOD Analysis
- Nifty Aug Future Open Interest Volume is at 1.23 core with liquidation of 58 Lakh with increase in cost of carry suggesting short position were added today, NF Rollover cost @8650, closed below it, trading near rollover range suggesting big move round the corner.
- Total Future & Option trading volume was at 4.51 Lakh core with total contract traded at 1.5 lakh , PCR @0.93 , Trader’s Resolutions for the New Financial Year 2016-17
- 8800 CE is having Highest OI at 66.3 lakh, resistance at 8800 .8500/9000 CE liquidated 24.4 lakh so resistance formation in 8800-8900 zone .FII bought 9.5 K CE longs and 7.3 K CE were shorted by them .Retail sold 2.1 K CE contracts and 6.2 K shorted CE were covered by them.
- 8400 PE OI@60.2 lakhs having the highest OI strong support at 8400. 8300-8800 PE added 4.3 Lakh in OI so bulls making strong base near 8550-8500 zone .FII bought 15.6 K PE longs and 1.6 K PE were shorted by them .Retail bought 9.7 K PE contracts and 9.2 K PE were shorted by them.
- FII’s sold 39 cores in Equity and DII’s bought 121 cores in cash segment.INR closed at 67.10
- Nifty Futures Trend Deciding level is 8642 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8660 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 8656 Tgt 8680,8719 and 8740 (Nifty Spot Levels)
Sell below 8615 Tgt 8595,8577 and 8550 (Nifty Spot Levels)
Upper End of Expiry:8712
Lower End of Expiry :8587
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