Nifty shows impulsive move,close above 8750, EOD Analysis

• FII’s bought 6.2 K contract of Index Future worth 426 cores ,4.8 K Long contract were added by FII’s and 1.3 K short contracts were added by FII’s. Net Open Interest increased  by 3.4 K contract, so rise in market was used by FII’s to enter long and exit  shorts  in  Index futures. EVERY SUCCESS STORY IS ALSO A STORY OF GREAT FAILURE

•  As discussed last Analysis   Holding 8700 can lead to price and time square as per gann which can lead to fast rise. 8700 should be watched closely for the coming 3 days.  Bulls need close above 8760 for target of 8809/8862. Bears will get active on close below 8700 for target of 8656/8580. We saw the impulsive move as per gann time square we have been discussing. Nifty made high of 8847 but saw a roller coster ride and made low of 8750 and close above 8760. Holding 8760 we can see another upmove towards 8860/8928, Bears will get active only below 8700 for target of 8656/8600.  Bank Nifty sees rollercoaster ride, EOD Analysis

• Nifty Sep Future Open Interest Volume is at 3.21 core with addition of 0.80 Lakh with decrease in cost of carry suggesting short  position were added today, NF Rollover cost @8686, closed above it rallied 250 points.
  

• Total Future & Option trading volume was   at 4.33 Lakh core with total contract traded at 1.8 lakh , PCR @1.04 , Trader’s Resolutions for the New Financial Year 2016-17

• 9000  CE  is having Highest OI  at 52.4 lakh, resistance at 9000 .8500/9000 CE  liquidated 10 lakh so finally bears added aggressively in 8900  .FII bought 14.5  K CE longs and 4.3 K shorted CE were covered by them .Retail bought 8.4 K CE contracts and 16.3 K CE were shorted by them.
  

• 8500 PE OI@59.6 lakhs having the highest OI strong support at 8500. 8300-8800 PE added 5 Lakh in OI so bulls strong base of 8700-8750 zone is still protected .FII sold 3 Lot of PE longs  and 7.3 K PE  were shorted by them .Retail bought 31 K PE contracts and 13.1 K shorted PE were covered by them.

• FII’s bought 660 cores in Equity and DII’s sold 213  cores in cash segment.INR closed at 66.92
  

• Nifty Futures Trend Deciding level is 8829 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8801 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level

Buy above 8795 Tgt 8820,8841 and 8862 (Nifty Spot Levels)

Sell below 8720 Tgt 8700,8670 and 8648 (Nifty Spot Levels)

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