FII positions as per F&O data before crucial U.S. Debt Ceiling

FIIs bought 25404 contracts of Index Future (bought 28620 long contract and 3216 shorts were added ) worth 795 cores with net Open Interest increasing by 31836contracts.FII’s today again went long in NF, but has started shorting Index Futures also.

Nifty opened with a gap up moved above its last swing high of 6142,made a new high of 6156 but was unable to sustain at higher levels and correction crept in and closed below 6100. Indian markets are closed today and all eye on US debt ceiling drama.Nifty touched the channel top as shown below and gave the pullback. Strong support in range of 6057-6046, break below it we will see a quick fall to sub 6000 levels. VIX is near an important support level and excessive bullishness in market participants longs should be cautious. We clearly warned our readers yesterday and Nifty is down 80 points from high 🙂

Nifty Future Oct Open Interest Volume is at 1.91 cores with addition of 9 lakhs in Open Interest,with fall in cost of carry, Long liquidation and short addition in market.Looking at OI data it seems we are getting a explosive move tomorrow, As discussed yesterday today we got the big move.

Total Future & Option trading volume at 1.44 lakh with total contract traded at 3 lakh.PCR (Put to Call Ratio) at 1.16.

6200 Nifty CE is having highest OI at 44.4 lakhs with addition of 3.3 lakhs in OI will be short term resistance. 6100 CE liquidated 3.1 lakh, and 6000 seems to be a firm base for time being, FII’s sold 10.7 K in Call option and 3.1 K shorted CE were covered , so limited upside for Nifty, 5700-6200 CE liquidated 73.4 K in OI.

6000 PE added 7.4 lakh suggesting 6000 will remain short term support, 6100 PE added 4.3 lakh with net OI at 33.2 lakh so nifty was again unable to sustain above 6100, till the base is not strong difficult to sustain above 6100 . FII’s bought 29.8 K in Put option and 10.2 K PE were shorted so buying in 6100 PE and shorting in 6000 PE smart play by FII.5700-6200 PE added 19.4 lakh in OI, this still shows excessive bullishness in market.

FIIs bought 1136 cores in Equity ,and DII sold 1035 cores in cash segment.INR closed at 61.86.

Nifty Futures Trend Deciding level is 6126 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 5974 and BNF Trend Changer Level (Positional Traders) 10237 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .