- FII’s sold 17.2 K contract of Index Future worth 1020 cores ,15.5 K Long contract were liquidated by FII’s and 1.6 K short contracts were added by FII’s. Net Open Interest increased by 13.8 K contract, so fall in market was used by FII’s to exit long and emter shorts in Index futures.
- As discussed in last analysis Today high is very important as its near the gann angles which nifty failed to cross in past 5 attempt as seen in below chart. Bulls need a close above 8600 for a move towards 8656/8737. Bears will get active below 8300 for a move towards 8231/8130. Nifty opened with gap down and continued with its fall and closed below our important gann number of 8300. Below 8300 Nifty can see quick fall towards 8180/8080. Above 8300 expect another move towards 8400/8556. 8300 is the LOC between Bulls and bears for next week. Bank Nifty hold the support zone of 19732,EOD Analysis
- Nifty Nov Future Open Interest Volume is at 1.75 core with addition of 4.9 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @8705 made high at 8704 on Tuesday and correction of 700 points.
- Total Future & Option trading volume was at 4.77 Lakh core with total contract traded at 2.47 lakh , PCR @0.89.
- 9000 CE is having Highest OI at 59 lakh, resistance at 9000 .8300/9000 CE added10 lakh so bears added aggressively 8400/8500 PE .FII sold 7.2 K CE longs and 75.6 K CE were shorted by them .Retail bought 218 K CE contracts and 22.6 K CE were shorted by them.
- 8200 PE OI@48.5 lakhs having the highest OI strong support at 8200 followed by 8300. 8200-8700 PE liquidated 21 Lakh in OI so bulls for ran for cover in 8200-8300. FII bought 49.3 K PE longs and 1.3 K PE were shorted by them .Retail sold 65.7 K PE contracts and 22.6 K PE were shorted by them.
- FII’s sold 1493 cores in Equity and DII’s bought 64 cores in cash segment.INR closed at 66.62
- Nifty Futures Trend Deciding level is 8395 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8540 . How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 8300 Tgt 8330,8360 and 8400 (Nifty Spot Levels)
Sell below 8280 Tgt 8250,8230 and 8180 (Nifty Spot Levels)
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