Nifty forms panic low, How to trade Expiry day

• FII’s sold 4.1 K contract of Index Future worth 164 cores, 5.1 K Long contract were added and 9.2 K short contracts  were added by FII’s. Net Open Interest increased  by14.4  K contract , so FII added longs in Index futures also shorts were added almost  in 1:1.8 ratio.

• This is what we discussed yesterday  we are nearing trendline support, we can see intraday break of trendline till 7963/7930 but might close above this.  So we did a panic low of 7950 on coal block case and bounced back sharply to close above 8000. As per EW we can now move to 8072 odd levels. Nifty held on to its trendline and today we can see  a follow upmove. Nifty is trading in sideways mode of 7950-8160 and this rangebound trading can go on till bias change from neutral to bullish as discussed in weekly analysis.  Bias is new concept we are developing to understand the future move on market.
  

 

 

• Nifty Future Sep Open Interest Volume is at 80 lakh with liquidation of 20  lakh which completely got rollovered to October series.
  

• Total Future & Option trading volume was   at 4  lakh core with total contract traded at 2.7 lakh. PCR @0.95.

• 8200  CE  OI at 74.3  lakh  suggesting wall of resistance , 8100 CE  added 11.6 lakh suggesting expiry should be around 8100, 8000 CE also added 18.4 lakh so 8000 can hold today and expiry can be near 8050/8100. FII’s sold 2.6 K CE longs and 13.2 K CE  were shorted  by  them.
  

• 8000 PE OI@ 66.4  lakhs so  base @ 8000 is getting jittery . 8100 PE OI@21.6 lakh  so 8100 will not be crossed till expiry now looking at liquidation, FII’s bought 9.5  K contract  PE longs and17.6 K PE contract were shorted  by  them mostly in 8000/7900 PE.

• FII’s sold 793 cores in Equity and DII sold 15 cores in cash segment.INR closed at 60.96.
  

• Nifty Futures Trend Deciding level is 8013 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8090 and BNF Trend Changer Level (Positional Traders) 16098.How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . 
  

 

Buy above 8010 Tgt 8024,8074 and 8100 (Nifty Spot Levels)

Sell below 8000 Tgt 7965, 7930 and 7910 (Nifty Spot Levels)

Expiry Range: 8050-7950

 

Click Here to Like Facebook Page get Real time updates