Nifty breaks 7563 approaching MML support,FII FnO Analysis

• FII’s sold 51.8 K contract of Index Future worth 1087 cores ,13.9 K Long contract were squared off by FII’s and 37.8 K  short contracts  were added by FII’s. Net Open Interest increased  by 23.8 K contract, so today’s fall in market was used by FII’s to exit  long  and enter  shorts in Index futures  How to win Mental Game of Trading

• Nifty broken 7563 level the high of May 16 when NDA won election break and 13 months of  gain got wiped off in 3 months,nifty can correct all the way till 7503 which is major pivot as per MML and 7422 is the demand area.  Close above 7563 is required for bulls to have some relief rally till 7700/7760, Bear market rallies will be fast and furious always keep this in mind while trading the next 3 days.
  

• Nifty September Future Open Interest Volume is at 2.35 core with addition of 3.7 Lakh with increase in OI and decrease in CoC suggesting short position have been added. Rollover stand at 65 % and avg cost of rollover @ 7998.

• Total Future & Option trading volume was   at 1.74  Lakh core with total contract traded at 5.2  lakh . PCR @0.92 and VIX trading at 26.

• 8000  CE  OI at 37  lakh , wall of resistance @ 8000 .7700/8000 CE added 13.9  lakh in OI so bears added major position today in 7900/8000  CE and added 99 Lakh.  FII bought 7.4 K CE longs and 35.3 K CE were shorted  by them.Retail bought 82 K CE contracts. Retailers keep buying CE and easy money made by FII’s by shorting them.
  

• 7500 PE OI@ 48  lakhs  strong base @ 7500.  7900/8100 PE  liquidated 5.3 lakh so finally liquidation  was seen by bulls as nifty broke the swing low of 7563. FII bought 31.3 K PE longs and 33.5 K PE were shorted by them.Retail sold 0.14 K PE contracts and 33 K PE contracts were shorted  by them.
  

• FII’s sold 826 cores in Equity and DII’s bought 504 cores in cash segment.INR closed at 66.82 trading at 2 year low.1997 Asian Currency Crisis happening again
  

• Nifty Futures Trend Deciding level is 7642 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 7850 and BNF Trend Deciding Level 16067 (For Intraday Traders) BNF Trend Changer Level (Positional Traders) 16725 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .

 

Buy above 7604 Tgt 7630,7660 and 7700(Nifty Spot Levels)

Sell below 7540 Tgt 7520,7500 and 7450 (Nifty Spot Levels)

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