Nifty Bounces but unable to sustain Higher,EOD Analysis

 

• FII’s sold 21.9 K contract of Index Future worth 1277 cores ,19.7 K Long contract were liquidated by FII’s and 2.2 K short contracts were added by FII’s. Net Open Interest decreased  by 17.5 K contract, so fall in market was used by FII’s to exit long and  enter  shorts in  Index futures. How not to Increase Your Trading Losses
  

• As discussed in last analysis  Nifty made low of 7697 does the target of 7700 near gann support line as shown in below chart, If we hold this line we can see bounce back till 7800/7850 range. Unable to close above 7850 in bounce back  we can fall all the way till 7546-7501 in next 2-3 weeks, High made today was 7777 our Chopad level Support , and low near gann trendline, if we do not close above 7777 tomorrow it will have bearish implication if we break gann trend line in coming week    Will Bank Nifty break Gann Trendline,EOD Analysis

• Nifty April Future Open Interest Volume is at 1.91 core with liquidation of 6 Lakh with decrease in cost of carry suggesting long position were closed today, NF  Rollover cost @7953, continue to trade below it.
  

• Total Future & Option trading volume was   at 1.63  Lakh core with total contract traded at 2.4  lakh , PCR @0.80, Trader’s Resolutions for the New Financial Year 2016-17
  

• 8000  CE  is having Highest OI  at 55.5  lakh, resistance at 8000 .7500/8000 CE  added 17 lakh so bears added position on higher level and will hold till nifty do not close above 7972 .FII bought 1  K CE longs and 25 K CE were shorted by them .Retail bought 55 K CE contracts and 13.5 K CE were shorted  by them.
  

• 7700 PE OI@40 lakhs having the highest OI strong support at 7700. 7200-7700 PE added 3.6 Lakh in OI so strong base near 7500-7600 zone .FII bought 20.2 K PE longs  and 4 K PE were shorted  by them .Retail sold 10 K PE contracts and 14.3 K PE were shorted  by them. FII’s added aggressive Nifty put at start of series, high of 7950  not broken bias remain bearish. High made today 7950
  

• FII’s sold 388.51 cores in Equity and DII’s bought 251.79  cores in cash segment.INR closed at 66.55
  

• Nifty Futures Trend Deciding level is 7755 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 7854 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level

Buy above 7720 Tgt 7737,7760 and 7789 (Nifty Spot Levels)

Sell below 7695 Tgt 7665,7640 and 7600(Nifty Spot Levels)

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