Bulls unable to hold 50 SMA,break of 200 DMA on cards ?

• FII’s bought 2.1 K contract of Index Future worth 167 cores,0.8  K Long contract were added by FII’s and 1.2 K  short contracts  were squared off  by FII’s. Net Open Interest decreased  by 0.03 K contract. As US market is having holiday,participation of FII was less in todays market. The Counter-intuitive Way To Control Your Emotions In Trading

• Nifty reacted from the zone of resistance as shown in below chart, price has also got rejected from its 50 SMA. Prices are heading towards the support zone of 8295-8356. Break below the same we can see deeper cut in market. As per Fibo Fans prices are again below 38.2 % retracement and unable to cross today’s high we can see expiry below 8200 odd levels. Also Gunner is near cruciak 1*1 gann line and break of same can also bring momentum for bears. Volatile times ahead.
  

• Nifty May Future Open Interest Volume is at 1.19 core with liquidation of 9.5 lakh, just 6.8 lakh added in June Series, so traders are liquidating positions and rollovers stands at just 20% at price of 8450.
  

• Total Future & Option trading volume was   at 2.82 core with total contract traded at 3.4 lakh. PCR @0.94

• 8500  CE  OI at 62.2  lakh , wall of resistance @ 8500 .8100/8400 CE saw added of 5.3  lakh  ,so bears added and  still holding 60 lakh open position. FII bought 1.4 K  CE longs and 4.6 K CE  were shorted  by them.Retailers bought 1.3 Lakh of CE longs.
  

• 8300 PE OI@ 52.2  lakhs so strong base @ 8300.  8300/8600 PE liquidated 38.3 lakh so bulls are got shock and panicked in just 100 point fall suggesting base is not strong and break of 8300 can lead to sharp panic in market.  FII bought 10 K PE longs and 15.4 K shorted  PE  were covered by them.
  

• FII’s bought 74  cores  in Equity and DII’s bought 0.17  cores in cash segment.INR closed at 63.56
  

• Nifty Futures Trend Deciding level is 8396 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8292 and BNF Trend Deciding Level 18332 (For Intraday Traders) BNF Trend Changer Level (Positional Traders) 18210 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
  

 

Buy above 8393 Tgt 8420,8441 and 8469 (Nifty Spot Levels)

Sell below 8364 Tgt 8342,8314 and 8265 (Nifty Spot Levels)

 

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