- FII’s sold 3.2 K contract of Index Future worth 236 cores , 1.1 K Long contract were liquidated by FII’s and 2.1 K long contracts were added by FII’s. Net Open Interest increased by 988 contract, so rise in market was used by FII’s to exit long and enter short in Index futures. Chasing a Trade
- As discussed in last analysis Nifty made a new high today at 9122 and also closed above 9081 as we have been discussing in past few analysis till 8860 is not broken we can see march towards new highs Thats Beauty of gann its keep you ahead of the curve, Today high@9122 was at very crucial juncture as seen in below Gann chart, I would give 9122 as make or break of level, for next few days, as closing above it we can see move towards 9212/9362/9468 in next 1 months and unable to cross above it correction till 9000/8860. Nifty continue to trade around the gann angles as shown below and also formed the lowest range of last 2.5 years, market is in wait and watch mode before the outcome of fed event. Bullish above 9130 for a move towards 9212/9300. Bearish below 8975 for a move towards 8900/8850. Bank Nifty forms Inside bar pattern,EOD Analysis
- Nifty March Future Open Interest Volume is at 2.52 core with addition of 0.90 Lakh with increase in cost of carry suggesting long position were closed today, NF Rollover cost @8925 closed above it before election results and rewarded big time.
- Total Future & Option trading volume at 3.49 Lakh core with total contract traded at 0.73 lakh , PCR @0.92
- 9200 CE is having Highest OI at 49.6 lakh, resistance at 9200 followed by 9500 .8800-9500 CE liquidated 21.4 Lakh in OI so bears were caught off guard and ran for cover. So watch out for 9300 CE on Tuesday .FII bought 5.7 K CE longs and 2.4 K shorted CE were covered by them .Retail sold 5.3 K CE contracts and 2.3 K CE were shorted by them.
- 8800 PE OI@55.8 lakhs having the highest OI strong support at 8900 followed by 8800. 8800-9500 PE added 21.8 Lakh in OI so bulls added in 8900/9000 PE. FII bought 8.7 K PE and 2.4 K PE were shorted by them .Retail bought 56.2 K PE contracts and 46.6 K PE were shorted by them.
- FII’s bought 1141 cores in Equity and DII’s bought 126 cores in cash segment.INR closed at 65.70
- Nifty Futures Trend Deciding level is 9116 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8973. TC was in Long side before the Election Results rewarded the traders How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 9122 Tgt 9150,9175 and 9200 (Nifty Spot Levels)
Sell below 9070 Tgt 9045,9030 and 9000 (Nifty Spot Levels)
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