Nifty Bulls close above 8577 again,EOD Analsysis

• FII’s sold 0.03 K contract of Index Future worth 6 cores ,135 Long contract were liquidated by FII’s and 0.02 K short contracts were added by FII’s. Net Open Interest increased  by 72 contract, so rise in market was used by FII’s to exit long and enter  shorts  in  Index futures. Why Traders lose money  Part-II

•  As discussed in Yesterday Analysis   Bears need to sustain below 8577 for target of 8517/8476. Bulls will get active again on close above 8577 for next move towards 8656/8752. Bears failed to do follow up move below 8577 and bulls were able to close above 8577 suggesting nifty can see another upmove towards 8656/8752. We are near trend change as per horizontal line and as per time analysis expect an impulsive move tomorrow.  Bank Nifty forms DOJI, EOD Analysis

• Nifty Aug Future Open Interest Volume is at 2.55  core with liquidation of 0.5 Lakh with increase in cost of carry suggesting short  position were closed today, NF Rollover cost @8650, closed below it.
  

• Total Future & Option trading volume was   at 4.62 Lakh core with total contract traded at 1.3 lakh , PCR @0.94, Trader’s Resolutions for the New Financial Year 2016-17

• 8800  CE  is having Highest OI  at 62.6 lakh, resistance at 8800 .8500/9000 CE  liquidated 2.3 lakh so resistance formation in 8800-8900 zone .FII sold 0.04 K CE longs and 7.1  K CE were shorted by them .Retail sold 66 K CE contracts and 50  K shorted CE were covered by them.
  

• 8500 PE OI@55.9 lakhs having the highest OI strong support at 8500. 8300-8800 PE added 6.2 Lakh in OI so bulls making strong base near 8550-8600 zone, need to see if it holds tomorrow .FII bought 15.9 K PE longs  and 2.6 K PE were shorted by them .Retail sold 39 K PE contracts and 25 K shorted PE were covered   by them.

• FII’s bought 608 cores in Equity and DII’s sold 621 cores in cash segment.INR closed at 66.85
  

• Nifty Futures Trend Deciding level is 8599 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8663 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level

Buy above 8616 Tgt 8638,8656 and 8680 (Nifty Spot Levels)

Sell below 8575 Tgt 8555,8520 and 8490 (Nifty Spot Levels)

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