Nifty close above 7972, EOD Analysis

• FII’s bought 13.8 K contract of Index Future worth 843 cores ,26.6 K Long contract were added by FII’s and 12.8  K short contracts were added by FII’s. Net Open Interest increased  by 39.4 K contract, so rise in market was used by FII’s to enter  long and  enter  shorts in  Index futures. Patience Is A Trader’s Virtue
  

• As discussed in last analysis   So we can trade between 7850-7972 range before taking next move. Till close is above gann number of 7850 bulls are in control  High made was 7991 and Low 7940 but closed above 7972, Bulls finally close above  7972 also gann resistance line as shown below for next move till 8116/8250. Nifty should give a follow up move in next 2 trading session. Any close below 7972 invalidate the move towards 8116/8250  Will Bank Nifty close above 17067 on Expiry day, EOD Analysis

 

• Nifty May Future Open Interest Volume is at 1.5 core with addition of  40 Lakh with increase in cost of carry suggesting long position were added today, NF  Rollover cost @7955 and Rollover % 60.4.
  

• Total Future & Option trading volume was   at 4.29 Lakh core with total contract traded at 1.3  lakh , PCR @0.96, Trader’s Resolutions for the New Financial Year 2016-17
  

• 8000  CE  is having Highest OI  at 67.1 lakh, resistance at 8000 .7800/8000 CE  liquidated 52 lakh so bears liquidated  as we closed above 7850 .FII sold 160 CE longs and 5.4 K shorted CE were covered by them .Retail bought 19.5 K CE contracts and   6.6 K CE were shorted by them.
  

• 7800 PE OI@62.8  lakhs having the highest OI strong support at 7800. 7800-8000 PE added 39 Lakh in OI so strong base near 7800 .FII bought 8.5 K PE longs  and 7.7 K PE were shorted  by them .Retail bought 11 K PE contracts and 4.2K PE were shorted  by them.
  

• FII’s bought 411 cores in Equity and DII’s sold 295 cores in cash segment.INR closed at 66.44
  

• Nifty Futures Trend Deciding level is 7978 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 7789 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level

Buy above 8000 Tgt 8020,8040 and 8071 (Nifty Spot Levels)

Sell below 7950 Tgt 7920,7890 and 7865 (Nifty Spot Levels)

Upper End of Expiry :8048

Lower End of Expiry :7911

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