Nifty Bulls held on to 7777, EOD Analysis

• FII’s sold 3.2 K contract of Index Future worth 193 cores ,2.2 K Long contract were liquidated by FII’s and 1 K short contracts were added by FII’s. Net Open Interest decreased  by 1.1 K contract, so rise in market was used by FII’s to exit long and   shorts were added in  Index futures.Cella Quinn from Dishwasher to President of Investment Firm
  

• As discussed in last analysis   Low made today was 7784, highlighting the importance of 7777 and closed above 7800 but below 7850, so market closed at no trade zone, Also we are near the gann trendline as shown below, holding the same we can see bounce back. Nifty again made low of 7772 held to gann trendline, again bounced from 7777 zone and also closed above 7850. Bearish only on close below 7777. Bullish on close above 7896 for short term target of 7995.   Bank Nifty bulls protect gann trendline,EOD Analysis

• Nifty May Future Open Interest Volume is at 1.61 core with liquidation of 0.87 Lakh with increase in cost of carry suggesting short position were closed today, NF  Rollover cost @7953, continue to trade below it.
  

• Total Future & Option trading volume was   at 2.71 Lakh core with total contract traded at 1.86  lakh , PCR @0.90, Trader’s Resolutions for the New Financial Year 2016-17
  

• 8000  CE  is having Highest OI  at 82.9 lakh, resistance at 8000 .7500/8000 CE  liquidated 5.4 lakh so bears liquidated as bulls held on to both 7777/7850 .FII bought 6.6 K CE longs and 0.9 K CE were shorted by them .Retail sold 11.6 K CE contracts and 9 K CE were shorted  by them.
  

• 7700 PE OI@54.3 lakhs having the highest OI strong support at 7700. 7200-7700 PE added 8.9 Lakh in OI so strong base near 7500-7600 zone .FII bought 14.4 K PE longs  and 1.2 K shorted PE were covered by them .Retail bought 26.9 K PE contracts and 23.5 K PE were shorted  by them.
  

• FII’s sold 79 cores in Equity and DII’s sold 127 cores in cash segment.INR closed at 66.80
  

• Nifty Futures Trend Deciding level is 7837 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 7845 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level

Buy above 7870 Tgt 7899,7930 and 7950 (Nifty Spot Levels)

Sell below 7835 Tgt 7800,7777 and 7740 (Nifty Spot Levels)

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