- FII’s bought 16.8 K contract of Index Future worth 1051 cores ,18.9 K Long contract were added by FII’s and 2 K short contracts were added by FII’s. Net Open Interest increased by 20.9 K contract, so rise in market was used by FII’s to enter long and enter shorts in Index futures. Psychological Pitfalls in Trading
- As discussed in last analysis Nifty continue its uptrend now range of 8430-8435 is very important zone of resistance,crossing the same rally can extend towards 8600. Taking resistance in zone we can see downmove towards 8250. High made today was 8417 and low 8382 and close at 8407. As we have weekly closing tomorrow so bulls will be happy to close above the gann resistance zone as shown in below chart,bears will be happy to close below 8380. Close above 8440 can see next round of upmove towards 8555/8598. Bears below 8370 can move back towards 8270-8250 range. Bank Nifty consolidate gains,EOD Analysis
- Nifty Jan Future Open Interest Volume is at 2.06 core with addition of 12.9 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @8031 closed above it.
- Total Future & Option trading volume at 5.93 Lakh core with total contract traded at 1.08 lakh , PCR @0.99
- 8500 CE is having Highest OI at 48.9 lakh, resistance at 8500 followed by 8600 .8000/8600 CE liquidated 1.4K so bears covered there position in 8200/8300 CE suggesting nifty ready for further upmove .FII bought 5.3 K CE longs and 1.6 K CE were shorted by them .Retail sold 53.8 K CE contracts and 21.1 K shorted CE were covered by them.
- 8000 PE OI@68.3 lakhs having the highest OI strong support at 8000. 8000-8600 PE added 35.5 Lakh in OI so bulls added in 8300/8400 PE. FII bought 9.3 K PE longs and 18.3 K PE were shorted by them .Retail sold 70.7 K PE contracts and 76.1 K shorted PE were covered by them.
- FII’s sold 12 cores in Equity and DII sold 110 cores in cash segment.INR closed at 68.08
- Nifty Futures Trend Deciding level is 8406 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8248. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 8438 Tgt 8457,8477 and 8500 (Nifty Spot Levels)
Sell below 8400 Tgt 8387,8367 and 8350 (Nifty Spot Levels)
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