- FII’s sold 30.7 K contract of Index Future worth 1880 cores ,31.4 K Long contract were liquidated by FII’s and 0.6 K short contracts were liquidated by FII’s. Net Open Interest decreased by 32 K contract, so fall in market was used by FII’s to exit long and exit shorts in Index futures.How To Become A Profitable Trader
- As discussed in Yesterday Analysis Bulls will get active on close above 8135 for move towards 8210/8241. Bears will get aggressive below 8050 for a move towards 7980. High made today was 8135 and low made was 8070 so we did not break both 8135 and 8050 suggesting we are ready for big move in next 2 days. Bank Nifty holds on to 17666,EOD Analysis
- Nifty June Future Open Interest Volume is at 1.91 core with liquidation of 16.4 Lakh with increase in cost of carry suggesting long position were closed today, NF Rollover cost @7961 closed above it
- Total Future & Option trading volume was at 2.02 Lakh core with total contract traded at 1.60 lakh , PCR @1, Trader’s Resolutions for the New Financial Year 2016-17
- 8300 CE is having Highest OI at 60.7 lakh, resistance at 8300 .8300/8600 CE added 8.3 lakh so bears forming resistance at higher levels 8300-8400 zone .FII sold 21.6 K CE longs and 10.5 K shorted CE were covered by them .Retail bought 43.9 K CE contracts and 1.3 K shorted CE were covered by them.
- 8000 PE OI@67 lakhs having the highest OI strong support at 8000. 8000-8600 PE liquidated 13.9 Lakh in OI so bears ran for cover, still strong base near 8000 zone .FII bought 34.5 K PE longs and 6.6 K shorted PE were covered by them .Retail sold 34 K PE contracts and 11.2 K PE were shorted by them.
- FII’s sold 113.36 cores in Equity and DII’s sold 32.27 cores in cash segment.INR closed at 67.26
- Nifty Futures Trend Deciding level is 8109 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8198 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 8100 Tgt 8140,8170 and 8210 (Nifty Spot Levels)
Sell below 8074 Tgt 8040,8000 and7972 (Nifty Spot Levels)
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As the closing is above 8198, will it be safe to assume that positional trend changer level is still active? Or the same stands closed as the nifty has hit a high of 8234 (around 40 points up!). Pls help me understand.
Also, as per your earlier blog I understand that at TC level the power of Bulls and bears are nuteral. Is there any method or way to identify how strong the Bulls or bears are (as per direction)?
Part booking is always necessary for long term survival in market.
Gann do help in understanding the market cycle.