Nifty close above 8336 but below 8372,EOD Analysis

• FII’s bought 1.3 K contract of Index Future worth 75 cores ,5 K Long contract were added by FII’s and 3.7 K short contracts were added by FII’s. Net Open Interest increased  by 8.7 K  contract, so rise in market was used by FII’s to enter long and enter shorts  in  Index futures.Want to be a Top Trader, Be mentally tough

•  As discussed in Yesterday Analysis   Bulls need a close above 8336 and 8372 which is a very important gann number, Unable to close above 8372 we can see a fall towards 8210. High made today was 8398 but again closed below 8372 and above 8336suggesting the importance of 8372 and 8336. The range of 8336-8372 is very important both from gann perceptive and supply and demand concept. This range nifty spent of lot time both while going up and coming down so lot of churning needs to happen before next move.  Breakout only on close of 8336 for target of 8488/8548/8700.  Bears will get active only on close below 8100.  Bank Nifty closes above 18051,EOD Analysis

 

• Nifty July Future Open Interest Volume is at 1.90  core with addition of 3.2 Lakh with decrease in cost of carry suggesting short  position were added today, NF  Rollover is at 73% and Rollover cost @8204 closed above it
  

• Total Future & Option trading volume was   at 1.77 Lakh core with total contract traded at 1.0 lakh , PCR @1.10, Trader’s Resolutions for the New Financial Year 2016-17

• 8500  CE  is having Highest OI  at 40.3 lakh, resistance at 8500 .8500/8700 CE  added 5.93 lakh so bears forming resistance at higher levels 8500-8700 zone  .FII bought 14.1 K CE longs and 6.6 K CE were shorted by them .Retail bought 6.9 K CE contracts and 27.1 K CE were shorted by them.

• 8000 PE OI@43.6 lakhs having the highest OI strong support at 8000. 8000-8300 PE added 30 Lakh in OI so bulls making strong base near 8100-8200 zone .FII bought 15.1 K PE longs  and 10.9 K  PE were  shorted by them .Retail bought 69.3 K PE contracts and 44.7 K PE were shorted by them.
  

• FII’s bought 182 cores in Equity and DII’s bought 377 cores in cash segment.INR closed at 67.26
  

• Nifty Futures Trend Deciding level is 8395 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8353How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level

Buy above 8400 Tgt 8421,8450 and 8475 (Nifty Spot Levels)

Sell below 8355 Tgt 8330,8305 and 8285 (Nifty Spot Levels)

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