- FII’s sold 352 contract of Index Future worth 42 cores ,696 Long contract were liquidated by FII’s and 344 short contracts were liquidated by FII’s. Net Open Interest decreased by 1 K contract, so rise in market was used by FII’s to exit long and exit shorts in Index futures. Traders New Year’s Resolutions for 2017
- As discussed in last analysis Real test of bulls will come in range of 8250-8270, decisive move can be seen during 04-05 Jan period. Bullish above 8270 for a move towards 8370/8450.Bearish below 8100 for a move till 7997/7900. High made today was 8219 and low 8148 so still the range trade between 8250-8100 continues. As seen in below chart 8148 market took support at gann line low of past 2 days is 8133 and 8148 so range of 8133-8148 is important support area and On Upside 8250-8270 important demand zone, decisive move will be seen outside this range only. As I have been discussing decisive move can be seen in 04-05 Jan so if any side range breaks expect at least 80-100 points move. Bank Nifty held on to its gann support,Ready for Big move
- Nifty Jan Future Open Interest Volume is at 1.72 core with addition of 1.98 Lakh with decrease in cost of carry suggesting short position were added today, NF Rollover cost @8031 closed above it.
- Total Future & Option trading volume at 3.26 Lakh core with total contract traded at 1.12 lakh , PCR @0.90.
- 8200 CE is having Highest OI at 38.5 lakh, resistance at 8200 followed by 8400 .7900/8500 CE added 1.5 lakh so bears added aggressively 8500/8300 CE .FII bought 13 K CE longs and 4.7 K shorted CE were covered by them .Retail bought 21.2 K CE contracts and 31.9 K CE were shorted by them.
- 8000 PE OI@59.4 lakhs having the highest OI strong support at 8000. 7900-8500 PE added 4.5 Lakh in OI so bulls added in 8200/8000 PE. FII bought 18.6 K PE longs and 4 K PE were shorted by them .Retail bought 33.4 K PE contracts and 34.1 K PE were shorted by them.
- FII’s sold 500 cores in Equity and DII bought 562 cores in cash segment.INR closed at 68.34
- Nifty Futures Trend Deciding level is 8198 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8163 . How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 8225 Tgt 8255,8275 and 8300 (Nifty Spot Levels)
Sell below 8180 Tgt 8160,8133 and 8100 (Nifty Spot Levels)
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