Nifty ready for trending move, EOD Analysis

• As discussed in last analysis   Holding 7916 we might has formed a short term bottom and see rally till 8130/8270. Bulls on close above 8010 can see fast move towards 8060/8100 in next 2 session. Bears will get active below 7900 and in between 7900-8010 it will be volatile expiry moves.  High made today was 8055 and closed above 8010 suggesting bulls are getting their foot back but we need a weekly close above 8010 to presume short term bottom is in place. Above 8060 we can see quick move towards 8100/8130. Bearish only on close below 7900 in between  7900-8010 choppy move continues Nifty failed to move the followup move above 8010 and also closed below 8010 yesterday, As seen in below chart nifty is near gunner support of both horizontal and vertical line indicated a trending move round the corner, Bulls will get active above 8010, for a move towards 8060/8130 and bears below 7890 in between choppy move continues.  Bank Nifty again trading near gann support zone,EOD Analysis
  

• Nifty Dec Future Open Interest Volume is at 1.50 core with addition of 58.2 Lakh with increase in cost of carry suggesting long position were added today, NF Rollover cost @8049 and Rollover @59.4 lowest since febuary
  

• Total Future & Option trading volume at 7.83 Lakh core with total contract traded at 1.8  lakh , PCR @0.89.

• FII’s sold 2010 cores in Equity and DII’s bought 1648 cores in cash segment.INR closed at 68.74
  

• Nifty Futures Trend Deciding level is 8021 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8021. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level

Buy above 7982 Tgt 8009,8055 and 8081 (Nifty Spot Levels)

Sell below 7940 Tgt 7908,7870 and 7840 (Nifty Spot Levels)

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