Nifty forms hanging man Patten, FII Data Analysis

• FII’s sold 2.1 K contract of Index Future worth 133 cores ,2.6 K Long contract were added  by FII’s and 4.7 K  short contracts  were added  by FII’s. Net Open Interest increased  by 7.3 K contract, so today’s consolidation and dip in morning session was used by FII’s to enter  longs in index futures and rise in evening session was used to create shorts Are You Comfortable with your trading ?

• As discussed in previous analysis  Nifty in morning made high at exact pyrapoint resistance and was trading in small range through out the day. Trend is up as per daily bar technique and till we do not see lower lows do not short the market. Pyrapoint Analysis indicates big move round the corner. Nifty today again was unable to cross the pyrapoint resistance,made low of 8559 higher than 8542, took support gann line as discussed in weekly analysis As per Quant analysis correction of more than 66 points only will end this uptrend.

• Nifty July Future Open Interest Volume is at 2.14 core with addition of 2.2 Lakh, with increase in CoC suggesting  shorts by retails traders have entered the system.
  

• Total Future & Option trading volume was   at 2 core with total contract traded at 2.9  lakh. PCR @1.14, cool off from yesterday high of 1.25

• 8800  CE  OI at 44  lakh , wall of resistance @ 8800 .8400/8800 CE added 0.07  lakh so bears unable to add even though nifty was down suggesting fear in bear camp. FII sold 10 K CE longs and 7.5 K CE were shorted by them.Retail bought 46.9 K CE contracts.
  

• 8500 PE OI@ 65.5  lakhs so strong base @ 8500.  8500/8700 PE liquidated 0.25 lakh so minor liquidation seen in  8500/8600 CE still holding 185 lakh suggesting bulls have made aggressive positions at lower levels . FII bought 18.1 K PE longs and 33 K PE were shorted by them.Retail sold 11.1 K PE contracts.
  

• FII’s bought 714 cores in Equity and DII’s sold 848 cores in cash segment.INR closed at 63.66

• Nifty Futures Trend Deciding level is 8608 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8451 and BNF Trend Deciding Level 19032 (For Intraday Traders) BNF Trend Changer Level (Positional Traders) 18658 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
  

 

Buy above 8632 Tgt 8660,8682 and 8708 (Nifty Spot Levels)

Sell below 8588 Tgt 8566,8542 and 8530 (Nifty Spot Levels)

 

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