1. FII sold 10776 Contracts of Index Future,worth 282.53 cores with net OI increasing by 3064 contracts.
2. As Nifty Future was down by 48 points and Open Interest in Index Futures increased by 3064,so FII took shorts in Nifty Future and Bank Nifty.They are also playing the range 5725-5635 and doing more of day trading.
3. NS closed at 5684 after making a high of 5712 and low of 5684 .Nifty spot again was unable to break 5725 and 5638 so still trading within the range of 5635-5725. It has been 9 days of consolidation in this range and has been a very frustrating range to traders. Best is to stay on sidelines till this range breakout/breakdown gets resolved.
4. Resistance for Nifty has come up to 5725 and 5741 which needs to be watched closely ,Support now exists at 5651 and 5635 .Trend is Sell on Rise till 5725 is not broken on closing basis.
5. Nifty Future October Open Interest is at 2.22 cores with liquidation of 20 Lakh in OI,long liquidation in NF.Rollovers have started in NF and 12 lakhs got rollovered from October Series.
6. Total F&O turnover was at 1.67 lakh Cores with total contract traded at 2.40 lakh, PCR at 0.94 and VIX at 14.54,Cash market volumes dipped so our assumption on Thursday that higher cash volumes were sign of distribution proved right.
As per Volume Profile 5681 NF will act as Strong resistance and 5645 NF strong support.
7. 5800 CE is having highest Open Interest of 1.07 Core with addition of 12 lakhs in OI as Premium reduced from Rs 14 To Rs 4 ,5700 CE added 9 lakhs in OI after Bears were able to close nifty below 5700 .5400-6000 CE added 7.6 lakhs in Open Interest.
8. 5600 PE is having highest Open Interest of 68 lakhs with liquidation of 19 lakhs in OI so 5600 is strong base for Nifty. 5700 PE saw a huge liquidation of 15 lakhs put writers were caught on wrong side as premium is almost doubled from Rs 30 to Rs 60 .5400-6000 PE unwounded huge 46.7 lakhs in Open Interest,Can Bears capitalize on breaking 5618 tomorrow?
9. FII bought 80.11 cores and DII bought 112.6 cores in cash segment,INR closed at at 53.41 Live INR rate @ http://inrliverate.blogspot.in/).FII sold 25 cores in Stock Futures.
10. Nifty Futures Trend Deciding level is 5696(For Intraday Traders), Trend Changer at 5720 NF(For Positional Traders). (Above this Level Bulls will rule Nifty/Below this levels Bears have upper hand).
Buy above 5686 Tgt 5712,5725,5737 and 5752
Sell below 5651 Tgt 5635,5618 and 5600 (Nifty Spot Levels)
Disclaimer: These are my personal views and trade taken on these observation should be traded with strict Sl
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