How to trade Nifty in RBI event

• FII’s bought 2.4 K contract of Index Future worth 99 cores, 6.3 K Long contract were squared off and 8.7 K short contracts  were squared off by FII’s. Net Open Interest decreased  by 15  K contract , so FII squared off both longs  and shorts in Index futures also shorts were added almost  in 1:1.8 ratio.

• Nifty consolidated today after 3 of big range moves,formed an inside day pattern signalling market is ready for big move tomorrow after RBI policy is announced ,We have Monthly closing tomorrow bulls would like to see a close above 8000. 8088/7909 are 2 numbers should be watched tomorrow.  EW analysis is shown below.Nifty Future premium  came down before the event suggesting traders are toning down the expectation before RBI event.
  

 

• Nifty Future Sep Open Interest Volume is at 1.55 core with liquidation of 9  lakh in OI  with decrease in CoC suggesting long liquidation.
  

• Total Future & Option trading volume was   at 1.21  lakh core with total contract traded at 1.67 lakh. PCR @0.93.

• 8200  CE  OI at 50.7  lakh  suggesting wall of resistance , 8100 CE  added 6 lakh suggesting  8100 will be difficult to cross in next 3 trading sessions, 8000 CE also added 0.28 lakh so 8000 can be tested tomorrow before the RBI event.  FII’s sold 11.1 K CE longs and 17.7 K CE  were shorted  by  them.
  

• 7800 PE OI@ 50.9  lakhs so strong based @ 8000 . 7900 PE OI@38.3 lakh  so 7900 PE is coming up as an strong base, FII’s bought 31.5  K contract  PE longs and 9.7 K PE contract were shorted  by  them mostly in 8000/7900 PE.

• FII’s bought 150 cores in Equity and DII bought 234  cores in cash segment.INR closed at 61.51.
  

• Nifty Futures Trend Deciding level is 8009 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 7996 and BNF Trend Changer Level (Positional Traders) 15566 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . 
  

 

Buy above 7962 Tgt 8024,8062 and 8100 (Nifty Spot Levels)

Sell below 7930 Tgt 7904, 7874 and 7842(Nifty Spot Levels)

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