Nifty forms DOJI, ready for big move,EOD Analysis

FII’s sold 3.5 K contract of Index Future worth 224 cores ,1.9 K Long contract were liquidated by FII’s and 1.5 K short contracts were added by FII’s. Net Open Interest decreased by 358 contract, so fall in market was used by FII’s to enter long and enter shorts in Index futures. How Long Does It Take To Learn How To Trade?

As discussed in Yesterday Analysis Bulls need a close above 8336 and 8372 which is a very important gann number, Unable to close above 8372 we can see a fall towards 8210. High made today was 8362 but again closed below 8372 above 8336 suggesting the importance of 8372 and 8336. The range of 8336-8372 is very important both from gann perceptive and supply and demand concept. This range nifty spent of lot time both while going up and coming down so lot of churning needs to happen before next move. Breakout only on close of 8372 for target of 8488/8548/8700. Bears will get active only on close below 8100. Bank Nifty ready for big move,EOD Analysis

Nifty July Future Open Interest Volume is at 1.86 core with liquidation of 2.6 Lakh with increase in cost of carry suggesting long position were closed today, NF Rollover is at 73% and Rollover cost @8204 closed above it

Total Future & Option trading volume was at 2.59 Lakh core with total contract traded at 1.01 lakh , PCR @0.99, Trader’s Resolutions for the New Financial Year 2016-17

8500 CE is having Highest OI at 42.4 lakh, resistance at 8400 .8400/8700 CE added 4.2 lakh so bears forming resistance at higher levels 8400-8500 zone .FII bought 2 K CE longs and 2.2 K CE were shorted by them .Retail sold 24.8 K CE contracts and 18.6 K shorted CE were covered by them.

8200 PE OI@46.2 lakhs having the highest OI strong support at 8200. 8000-8300 PE added 5.4 Lakh in OI so bulls making strong base near 8100-8200 zone .FII bought 6.6 K PE longs and 0.03 K PE were shorted by them .Retail sold 20 K PE contracts and 21.1 K PE were shorted by them.

FII’s sold 299 cores in Equity and DII’s sold 159 cores in cash segment.INR closed at 67.39

Nifty Futures Trend Deciding level is 8359 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8356 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level

Buy above 8350 Tgt 8371,8400 and 8433 (Nifty Spot Levels)

Sell below 8290 Tgt 8270,8250 and 8210 (Nifty Spot Levels)

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