Bulls and Bears both thank Raghuram Rajan,FII FnO Data Analysis

• FII’s sold 8.8  K contract of Index Future worth 3 cores, 1.3 K Long contract were squared off by FII’s and 7.5  K  short contracts  were added by FII’s. Net Open Interest increased  by 6.1 K contract.

• Nifty made a new All time High today @9119 after RBI cuts rates by 25 bps to 7.5% from 7.75%  .  If one observe RBI moves it becomes easier to trade , if 2006-07 when RBI was cutting rates market used to sell off after opening gap up and in 2007-2008 when RBI increased rates Maket used to go up after intital dip. Also as per Weekly Analysis gann date effect was seen in market. Today again the same story got repeated and we saw decline of 227 points from High. Nifty today’s range was higher than Budget day shows the quatum of move.   Nifty as per gann box is entering a new quadrant and took support at yeallow line.  Range of  8893/8885 should be closely watched holding the same bounceback can be seen till 8970/8980 range. Hourly charts trendline support is at 8841-8838 range.
  

• Nifty March Future Open Interest Volume is at 2.68 core with liquidation of 9.2 lakhs with decrease in cost of carry.Out of  36 Lakh Nifty OI  which was added in last 100 points, 10 lakh got liquidated today so 26 lakh are still holding out.
  

• Total Future & Option trading volume was   at 2.99 core with total contract traded at 6.1 lakh. PCR @0.92.

• 9000  CE  OI at 40.4 lakh  so wall of resistance @ 9000 .8700/8900 CE liquidated 0.9 lakhs,  no major addition after today’s fall suggesting bears are not confident on this fall . FII bought 40.1 K CE longs and 15.4 K  shorted CE were covered by them.
  

• 8500 PE OI@ 43.  lakhs so strong base @ 8500. 8600/8900 PE  saw liquidation of 4.6  lakhs still no major liquidation and still 17  lakh OI added in past 2 days is holding so bulls are front foot as of now. FII added 14.7 K PE longs and 21.3 K PE were shorted by them.
  

• FII’s bought 2786 cores  in Equity and DII bought 16 cores in cash segment.INR closed at 62.26.
  

• Nifty Futures Trend Deciding level is 9049 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8928 and BNF Trend Deciding Level 20198 (For Intraday Traders) BNF Trend Changer Level (Positional Traders) 19605 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .   

 

Buy above 8960 Tgt 8978 ,9000 and 9025 (Nifty Spot Levels)

Sell below 8893 Tgt 8860,8840 and 8820 (Nifty Spot Levels)

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