Nifty holds its 200 DMA,EOD Analysis

• FII’s bought 1.7 K contract of Index Future worth 103 cores ,37.5 K Long contract were liquidated by FII’s and 55.6  K short contracts were liquidated by FII’s. Net Open Interest decreased  by 93.1 K contract, so fall in market was used by FII’s to exit both  long and 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,Any close below 7972 invalidate the move towards 8116/8250.Nifty traders who were flexible would have made a very good money today and traders who were with bullish bias view would be buying every dip. As soon as Nifty was trading below 7972 for 1 hour trend changed, and we went back to 7850 closed just a tad below 7850 and held on 200 DMA. Fall on expiry day are technical in nature and we can see reverse move in next day. If we close above 7850 on weekly basis can see move back to 7950-7972 range and weekly close below 7850 can see move towards 7750-7700.   Bank Nifty holds its 200 DMA,EOD Analysis

• Nifty May Future Open Interest Volume is at 2.01 core with addition of  42 Lakh with increase in cost of carry suggesting long position were added today, NF  Rollover cost @7953 and Rollover % 70.9
  

• Total Future & Option trading volume was   at 7.75 Lakh core with total contract traded at 2.4  lakh , PCR @0.97, Trader’s Resolutions for the New Financial Year 2016-17

• FII’s bought 120 cores in Equity and DII’s sold 416 cores in cash segment.INR closed at 66.52
  

• Nifty Futures Trend Deciding level is 7948 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 7948 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level

Buy above 7892 Tgt 7920,7948 and 7979 (Nifty Spot Levels)

Sell below 7830 Tgt 7810,7790 and 7760 (Nifty Spot Levels)

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