Nifty near Gunner support, FII FnO Data Analysis

FII’s sold 17.9 K contract of Index Future worth 427 cores,13.5 K Long contract were squared off by FII’s and 4.3 K short contracts were added by FII’s. Net Open Interest decreased by 9.2 K contract.

As per Pyrapoint Analysis Nifty Opened nifty is entering the support zone of 180 degree and holding well above its red line. Gann Box also suggests we are entering a support zone and shorts should be cautious. Also Gunner in the second chart suggests we are nearing the sell target, so profit booking in shorts should be done. We can see another round of decline till 8497 if 8550 on Nifty is broken , if not we can see a fast and swift bullish move above 8600. Gunner chart also suggests we are nearing short term bottom and relief rally can be seen in next 2 trading sessions. Gann Box Analysis also shows we are near 2×1 line also entering a new quadrant tomorrow.

Nifty March Future Open Interest Volume is at 2.19 core with liquidation of 9 lakhs with decrease in cost of carry. Rollover have started and 15.1 % rollover were witnessed today with average rate of 8671.

Total Future & Option trading volume was at 2.94 core with total contract traded at 3.2,lakh. PCR @0.78 lower end of trading range.

9000 CE OI at 46.6 lakh ,wall of resistance @ 9000 .8600 CE saw addition of 10 lakhs,so bears added big time in 8600 CE, bears strength will be tested in next 2 session and still holding 100 lakhs in past 6 session. FII sold 4.6 K CE longs and 15 K CE were shorted by them. Biggest beneficiaries of this range bound move in the series is for Option Writers.

8500 PE OI@ 52.7 lakhs so strong base @ 8500. 8700/8900 PE saw liquidation of 13 lakhs so finally weak bulls started covering their positions . FII bought 2.1 K PE longs and 8.7 K shorted PE were covered by them.

FII’s bought 354 cores in Equity and DII sold 219 cores in cash segment.INR closed at 62.24.

Nifty Futures Trend Deciding level is 8585 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8803 and BNF Trend Deciding Level 18601 (For Intraday Traders) BNF Trend Changer Level (Positional Traders) 19290.How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .