1. FII bought 31109 Contracts of Index Future,worth 903.89 cores with net OI decreasing by 312403 contracts.
2. As Nifty Future was up by 9 points and Open Interest in Index Futures decreased by 312403, so FII have covered their positions and from tommorow will start afresh. RollOvers have been on long side as Nifty has closed above 5700.
3. NS closed at 5705 after making a high of 5718 and low of 5686.Nifty spot again was unable to break 5725 and 5638 so still trading within the range of 5635-5725. October Series has come to an end and tommrow should be the day Bulls should capitalize and break the range. Nifty has been consistently closing above 5680 suggesting the base formation and higher low above 5635.
4. Resistance for Nifty has come up to 5725 and 5741 which needs to be watched closely ,Support now exists at 5680 and 5651 .Trend is Buy on Dips till 5680 is not broken on closing basis.
5. Nifty Future November Open Interest is at 1.80 cores with addition of 34 Lakh in OI,long addition in NF. 1.5 cores Rollovers in NF happened in range of 5693-5757 NF so this range become a crucial range for November series.
6. Total F&O turnover was at 2.27 lakh Cores with total contract traded at 2.54 lakh, PCR at 0.95 and VIX at 13.52.Cash market turnover was 30% less ass compared to Septmerber expiry means smart money is holding on to longs created.
7. 5900 CE is having highest Open Interest of 31 Lakhs with addition of 9.4 lakhs in OI ,5800 CE added 3.8 lakhs in OI. So 5900 comes as Intial Resistance in November series. 5300-6100 CE added 50 lakhs in OI
8. 5600 PE is having highest Open Interest of 38 lakhs so 5600 is strong base for Nifty from start of November series. 5700 PE added 3.4 lakhs so tommrow action in 5700 PE will give clarity on Option writers sentiments. 5300-6100 PE added 42 lakhs in OI
9. FII sold 551 cores and DII sold 34.7 cores in cash segment,INR closed at at 53.66 Live INR rate @ http://inrliverate.blogspot.in/).FII sold 730.68 cores in Stock Futures.
10. Nifty Futures Trend Deciding level is 5720(For Intraday Traders), Trend Changer at 5743 NF(For Positional Traders). (Above this Level Bulls will rule Nifty/Below this levels Bears have upper hand).
Buy above 5725 Tgt 5740,5752,5775 and 5800
Sell below 5701 Tgt 5688,5670 and 5651 (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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I thought there was a trading holiday tomorrow on account of Eid… 😀