Nifty forms Bearish Engulfing pattern,FII FnO Data Analysis

• FII’s bought 34.8 K contract of Index Future worth 783 cores,35.2 K Long contract were added  by FII’s and 483 short contracts  were added by FII’s. Net Open Interest increased  by 35.7 K contract.Holy Grail for Successful trading

•  Nifty after 9 days of rally formed first lower low @8722 also we corrected more than 122 points from highs. Todays fall came in last 30 mins and took most of participants by surprise. We were cautioning readers this is what we discussed yesterday As per Gunner charts on both Hourly and daily Nifty is heading towards the resistance zone of 8850-8863 range which are target as per gunner pattern , so longs can book out in this range. Nifty EW charts are also shown below, the pink region which also lies in range of 8850-8863 will act as strong supply zone so caution advised on longs. Now looking at below chart range of 8700-8720 is important support zone if held we can see counter move tomorrow or by Friday.
  

 

• Nifty April Future Open Interest Volume is at 1.94 core with addition of 6.3  lakhs with decrease in cost of carry suggesting  short position got added.
  

• Total Future & Option trading volume was   at 2.03  core with total contract traded at 6.3 lakh. PCR @1.08 suggesting sentiments is turned excessive bullish.

• 9000  CE  OI at 55.6  lakh , wall of resistance @ 9000 .8800/8900 CE saw addition of 12.6  lakhs ,so  bears who added aggressively in today’s session. FII bought 0.9 K  CE longs and 11.8 K CE  were shorted  by them.
  

• 8600 PE OI@ 45.1  lakhs so strong base @ 8500.  8600/8800 PE liquidated 3.2  lakh so bulls still holding  52 lakh  added in 4 days, still no panic in bull camp.  FII bought 4.7 K PE longs and 107  PE  were shorted by them.
  

• FII’s bought 108 cores  in Equity and DII sold 60.8 cores in cash segment.INR closed at 62.36.
  

• Nifty Futures Trend Deciding level is 8823 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8657 and BNF Trend Deciding Level 18937 (For Intraday Traders) BNF Trend Changer Level (Positional Traders) 18578 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .  

 

Buy above 8773 Tgt 8800,8822 and 8844 (Nifty Spot Levels)

Sell below 8720 Tgt 8700,8682 and 8650 (Nifty Spot Levels)

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